48611, Auburn, MI

Auburn, MI is located in Oakland County and has a population of around 82,000. The median household income in the zip code is $60,000 and the median home value is $183,500. Home equity in Auburn has been on the rise for the past few years and there are many reasons why this may be the case.

One reason for this increase may be that there are a lot of new homes being built in Auburn. This means that there are more potential buyers who can afford to buy a home and invest in its equity. Additionally, many people who live in Auburn have taken advantage of low interest rates to borrow money against their home equity to finance other expenses or to invest elsewhere. As long as interest rates remain low, these borrowers will continue to benefit from their investments and will be able to sell their homes at a higher price than they would have if they had not borrowed against them.

Another factor contributing to the increase in home equity values is that many people are choosing to stay put instead of moving during these tough economic times. This means that there are more houses available for sale than there were previously, which drives up prices. Additionally, since most people who live in Auburn own their homes outright rather than using mortgages or other forms of financing, they are not as likely to experience any sudden changes in market conditions that could lead to a decrease in their home's value.