48472, Snover, MI

The Snover, MI 48472 zip code has a median home value of $128,000 and a median home equity of $86,000. This is significantly lower than the statewide median home value of $224,500 and statewide median home equity of $142,700. The 48472 zip code also has a significantly lower percentage of homeowners (55%) than the statewide percentage (63%). This indicates that there are more renters in the 48472 zip code than homeowners.

One possible explanation for these disparities is that the 48472 zip code is located in an area with a high rate of unemployment. In addition, this area may have a higher rate of poverty than other areas in Michigan. These factors could lead to lower incomes and less access to credit, which would impact home values and home equity.

Another possible explanation for the disparities in home values and equity is that Snover, MI48472 residents may be purchasing homes at a discount relative to other areas in Michigan. Home prices have been declining nationwide for several years now, so it may make sense for buyers in Snover to seek out deals on homes before they become available elsewhere in Michigan or nationwide.