48853, Maple Rapids, MI

The home equity and home prices in the 48853 zip code of Maple Rapids, MI are very high. The median home value in this zip code is $248,000, which is more than double the statewide median home value of $116,500. Additionally, the percentage of homes in this zip code that are worth more than $300,000 is significantly higher than the statewide percentage of homes that are worth more than $300,000. This indicates that there is a lot of wealth concentrated in this zip code.

One possible explanation for why the home equity and home prices in this zip code are so high is that Maple Rapids has a high concentration of wealthy residents. The percentage of households earning over $200,000 per year in this zip code is significantly higher than the statewide percentage of households earning over $200,000 per year. Additionally, the percentage of households earning over $250,000 per year in this zipcode is also significantly higher than the statewide percentage of households earning over $250,000 per year. These statistics suggest that there is a lot of money available to purchase homes in Maple Rapids.

Another possible explanation for why the home equity and home prices in this zip code are so high is that Maple Rapids has a low unemployment rate. The unemployment rate in Maple Rapids was 2% as of May 2017, which was lower than both the Michigan state unemployment rate (3%) and the national unemployment rate (4%). This suggests that there are a lot of jobs available to people who want to purchase homes in Maple Rapids.

Overall, it appears that there are multiple factors contributing to why the home equity and home prices in this zip code are so high. High concentrations of wealth and low unemployment rates seem to be two major factors; however other factors such as access to affordable credit may also play a role. It will be interesting to see how these factors change as time goes on and whether or not they continue to contribute to high home values within this particular ZIP Code area