48864, Okemos, MI

The home equity and home prices in the 48864 zip code of Okemos, MI are reflective of the overall market conditions in the area. Over the past five years, home values have increased by an average of 7.5%. This is significantly higher than the statewide average of 5.4%, but still below the national average of 9.2%. The main drivers of this increase are likely attributable to strong job growth and low interest rates.

Despite these positive trends, there are some caveats worth noting. First, although home values have increased steadily over the past few years, they remain relatively modest when compared to more affluent areas such as Bloomfield Hills or Ann Arbor. Second, while prices have been increasing faster in some parts of town than others, there has been little change in overall affordability – meaning that even with a healthy appreciation rate, many buyers remain unable to purchase a median-priced house within their budget. Finally, while demand appears to be strong overall, it may be limited somewhat by available inventory – particularly in more affordable neighborhoods near downtown Okemos.