48744, Mayville, MI

The 48744 zip code of Mayville, MI is located in the southeast corner of the state and has a population of just over 10,000. The median household income in this zip code is just over $50,000 and the homeownership rate is around 68%. Home values in this area have been increasing steadily for the past few years, reaching a peak of almost $200,000 in 2017. However, prices have since decreased slightly and are now around $185,000.

One reason that home values have increased so much in the 48744 zip code is that there are a lot of families who are able to afford to buy homes here. The homeownership rate is high because many people here are able to borrow money against their home equity to buy a house. Additionally, there are a lot of new homes being built in this area which also contributes to rising home values.

However, there may be some risks associated with buying a home in the 48744 zip code. For example, if interest rates increase then it could become more difficult for people to repay their mortgages. Additionally, if there is an economic downturn then prices could decrease significantly and many people who bought homes during the recent boom period could find themselves losing money on their investments.