48723, Caro, MI

The 48723 zip code of Caro, MI has a median home value of $141,200 and a median home equity value of $127,000. These values are relatively high when compared to the rest of the state of Michigan. The reason for this is likely due to the presence of several prestigious universities in the area, as well as a strong economy. Additionally, Caro is located in an affluent region of Michigan.

Despite these factors, there are still many homeowners in the 48723 zip code who are struggling to maintain their homes. This is likely due to rising interest rates and decreased home values over time. In fact, according to Zillow’s Home Value Index (HVI), the average HVI in Caro was -5% from January 2018 through December 2018. This means that there was a decrease in average home values by 5% during that time period.

Overall, it appears that homeownership rates and home equity values are slowly declining in the 48723 zip code. However, this does not mean that all homeowners are struggling or that there is no opportunity for growth within this area. If you're looking for a place to live with great schools and access to economic opportunities, then you may want to consider purchasing a property in the 48723 zip code