48662, Wheeler, MI

The 48662 zip code of Wheeler, Michigan has a median home value of $128,000 and a median home equity value of $101,000. The average home price in this zip code has increased by 9.7% over the past year. This is significantly higher than the national average increase of 2.9%.

There are several factors that have contributed to the increase in home values in this zip code. One reason is that the population of Wheeler has grown significantly over the past few years, which has led to an increased demand for homes. Additionally, many homeowners in this area have taken advantage of low interest rates to refinance their mortgages and increase their home equity values.

Despite these positive trends, there are still some risks associated with buying or owning a home in Wheeler. For example, there is a high rate of foreclosure activity in this area which could lead to decreased housing prices if more homes become available for sale at lower prices. Additionally, although the average mortgage payment in Wheeler is lower than most other areas, it may not be affordable for everyone who wants to buy or own a home here.