48842, Holt, MI

The zip code of 48842 in Holt, Michigan has a median home value of $128,000 and a median home equity value of $101,000. These values are higher than the statewide median home value of $119,500 and the national median home equity value of $106,200. The reasons for these high values are likely due to the high demand for housing in this area and the low number of available homes for sale.

In addition to having a high median home value, 48842 also has a high percentage of homeowners with a mortgage or loan on their homes. This is likely due to the strong economy and low unemployment rate in this area. Approximately 82% of households in 48842 have some form of mortgage or loan on their homes, which is above the statewide average of 70%. This indicates that many people in this zip code are confident that they will be able to keep their homes even if they lose their jobs or income.

Despite these positive factors, there are also some challenges facing homeowners in 48842. One issue is that there is not enough available housing for sale to meet the demand from buyers. This means that homeownership rates in this area are relatively high compared to other areas across Michigan and the United States. Another challenge is that interest rates have been increasing recently, which could make it more difficult for homeowners to pay off their mortgages or loans over time.