48701, Akron, MI

The Akron, Michigan 48701 zip code has a median home value of $137,500 and a median home equity of $101,000. These values are significantly higher than the statewide median home value of $115,000 and the national median home equity of $106,200. This indicates that homeowners in the 48701 zip code are more likely to have a higher net worth than homeowners statewide or nationwide. Additionally, Akron residents have been able to benefit from rising home prices over the past several years.

One reason for this is that the Akron area has experienced strong economic growth over the past few years. The 48701 zip code has seen an increase in both population and employment over this time period, which has led to increased demand for housing and consequently increased prices. Additionally, many homes in the area were built prior to 2000, which means that they are more affordable than newer homes. However, even newer homes in the 48701 zip code can be quite expensive compared to other areas of Michigan or nationwide.

Overall, it appears that homeowners in the 48701 zip code are well-positioned financially relative to other residents in Michigan or nationwide. This may help explain why home prices have been relatively stable over recent years despite strong economic growth elsewhere in the country.