48724, Carrollton, MI

The 48724 zip code of Carrollton, MI is located in Macomb County and has a population of approximately 25,000. The median household income in the zip code is $75,000 and the median family income is $92,500. The home equity and home prices in the zip code are both relatively high compared to other areas of Michigan.

According to Zillow, the median home value in the Carrollton zip code is $236,700 which is significantly higher than the statewide median home value of $146,200. Additionally, Zillow reports that the average home equity loan-to-value ratio (LTV) in this zip code is 97%, which is significantly higher than the statewide average LTV of 70%. This indicates that many homeowners in this area have a considerable amount of equity in their homes.

One reason for this high level of home equity may be due to Carrollton's strong economy. According to Forbes magazine, Carrollton has been ranked as one of America's "Best Places To Live" for six consecutive years. This strong economy may have led to increased demand for homes and increased values for those homes. Additionally, Carrollton has a low unemployment rate (3%) which may also contribute to its high level of home values.