49002, Portage, MI

The 49002 zip code of Portage, MI has a median home value of $136,000 and a median home equity of $87,000. This is higher than the Michigan statewide median home value of $119,500 and the national median home equity of $81,200.

There are a number of factors that contribute to the high values in this zip code. The area is affluent and has a high rate of homeownership. Additionally, there is strong demand for housing due to its proximity to both Detroit and Lansing. Finally, Portage has experienced relatively low rates of inflation over the past few years which has kept prices stable relative to other areas in Michigan.

Despite these positive factors, there are some challenges facing homeowners in this zip code. One issue is that the area has seen an increase in foreclosure activity over the past few years which could lead to decreased values in the future. Additionally, while incomes have been increasing overall in Michigan over recent years, they haven't been rising as quickly as house prices have so some buyers may find it difficult to afford homes here.