48740, Harrisville, MI

The Harrisville 48740 zip code is located in the southeastern corner of Michigan, just north of the Ohio border. The area has a population of around 2,000 people and a median household income of $50,000. Home prices in the 48740 zip code have been on the rise for several years now, reaching an all-time high of $269,900 in 2016. This has led to a large increase in home equity for residents in this area. As of September 2018, home equity accounts for 34% of total household wealth in the 48740 zip code.

The main drivers behind this increase in home values are strong economic growth and low interest rates. The Harrisville 48740 zip code has seen average annual growth of 3.5% over the past five years, which is much higher than the national average (1%). In addition, interest rates have remained low throughout this period – making it more affordable to borrow money to buy a home.

However, there are some risks associated with rising home values that should be considered by homeowners and investors alike. For example, if interest rates rise suddenly or if the economy experiences another recession, then prices could fall significantly – potentially causing significant financial losses for those who invested in homes during this time period. Additionally, while home equity is an important part of many households' wealth portfolios, it's also vulnerable to market fluctuations – meaning that it could lose value quickly if conditions change negatively for the economy as a whole.