48505, Flint, MI

The 48505 zip code of Flint, Michigan has a population of around 100,000 people and is located in the southeastern part of the state. The median household income in this zip code is $41,500 which is lower than the national median household income of $53,046. However, the poverty rate in this zip code is much higher at 27.5% compared to 12.7% nationally.

One reason for this high poverty rate may be that many residents are unemployed or underemployed. The unemployment rate in Flint was 17% as of May 2016 which is much higher than the national unemployment rate of 4%. The underemployment rate in Flint was also high at 31% as of that same month. This indicates that many residents are working but not earning enough to support themselves and their families adequately.

Another factor contributing to the high poverty rate in Flint may be the low home equity and home prices here. As of May 2016, the home equity index for this zip code was only 2%, which is lower than both the national home equity index (3%) and average home equity index (4%). This means that many residents here do not have enough money saved up to buy or build a house on their own without help from outside sources such as loans or grants.

In addition, homes here are generally smaller and less expensive than homes elsewhere in Michigan or nationwide. For example, according to Zillow’s analysis of data from March 2016, the average price per square foot for homes in Flint was only $14 compared to $146 nationally and $236 statewide . This means that even if someone were able to purchase a house here outright they would likely have to spend a significant amount more money than someone who lives elsewhere on either mortgage payments or other expenses such as property taxes or insurance premiums.