49010, Allegan, MI

The 49010 zip code of Allegan, Michigan has a median home value of $105,000 and a median home equity value of $127,500. The homeownership rate in the 49010 zip code is 68.4%. This is lower than the statewide homeownership rate of 69.1%. The percentage of households that own their homes outright is lower in the 49010 zip code than the statewide average (63.5%). The percentage of households that are renters is higher in the 49010 zip code than the statewide average (35.2%).

There are a number of factors that may contribute to these differences in homeownership rates between the 49010 zip code and statewide averages. One potential factor could be that there are more families living in rental housing units in Allegan, Michigan than there are families living in owner-occupied housing units. Another potential factor could be that more people are borrowing money to purchase homes in Allegan, Michigan than they are elsewhere in Michigan. Either way, it's important to keep these factors in mind when analyzing home equity and home prices data for the 49010 zip code.