48855, Howell, MI

Howell, MI is located in the southeastern portion of Michigan. The zip code 48855 has a population of approximately 11,000 people and an average household size of 2.5 people. Home equity in the zip code averages $101,000 while home prices range from $130,000 to $200,000.

The main industries in Howell are manufacturing and health care services. The unemployment rate in Howell is 3.7%, which is lower than the national average of 5%. The median income for households in the zip code is $60,500 which is lower than the national median income of $53,046. Approximately one-third of households in Howell receive government assistance through programs such as food stamps or Medicaid.

One factor that affects home values and home equity is interest rates. When interest rates are high, it makes it more difficult for people to borrow money to purchase a home because the monthly payment would be higher than if interest rates were lower. Another factor that affects home values and home equity is market saturation – when there are too many homes available for sale or when prices have risen too high relative to incomes, it can make it difficult for people to purchase a home even if they have enough money saved up.