Zip Code:
49112 is a Michigan Zip code within the city of Edwardsburg and the county of Cass County. Its population is roughly 9,941.
Edwardsburg, MI is located in the 49112 zip code. According to the 2010 census, the population of Edwardsburg was 2,814. The median household income in Edwardsburg was $50,924. Home equity and home prices in Edwardsburg are important factors to consider when evaluating a potential home purchase or investment.
According to Zillow’s Home Value Index for ZIP Codes within Michigan’s Thumb Region (which includes counties in Michigan’s Lower Peninsula), the median home value in Edwardsburg was $128,100 as of September 30th, 2016. This is above the statewide median home value of $119,200 and ranks #2 out of all ZIP Codes within Michigan’s Thumb Region. Additionally, as of September 30th, 2016 there were 1,521 homes for sale within the 49112 zip code and 553 homes were listed for sale at a price over $200K. These figures indicate that there is strong demand for homes in this zip code and that homeownership opportunities are likely available at reasonable prices.
While it is difficult to determine an exact figure due to various factors (including local market conditions), it is generally estimated that home equity values increase by around 6-7% per year on average nationwide (Zillow). This means that if you purchased a home in Edwardsburg five years ago with an initial mortgage amount of $150K (for example), your current home equity would be approximately $166K ($128K +$12K =$166K). If you were to sell your home now for full market value ($128K), you would receive around $172K ($128K +$8500 =$172K). Therefore, even if you did not make any additional investments or improvements to your property during this time period (e.g., paying down debt or saving for a down payment on another property), your overall net worth would have increased by around 8%. This illustrates just how important it can be to maintain or increase yourhome equity over time – especially during challenging economic times like we currently face.
Another important factor to consider when assessing home values and purchasing a property is mortgage availability. As of September 30th, 2016 there were 1,063 mortgages available within the 49112 zip code – which indicates that mortgages are readily available at reasonable rates relative to other areas within Michigan’s Thumb Region (Zillow). Therefore, even if you could not afford a property outright – due to low interest rates or other financial constraints – chances are good that you could still qualify for a mortgage and purchase a property through conventional means. In addition, given recent trends towards “buyer beware” sentiment among consumers (due largely to high levels of student loan debt), it may be wise to consult with an experienced real estate agent who can provide guidance on specific neighborhoods/properties within Edwardsburg – based on your individual financial situation and desired housing goals/needs..
Price Index: South Bend-Mishawaka, IN-MI
Zipcode | Population | Density | Timezone | Latitude | Longitude | City | County | State |
---|---|---|---|---|---|---|---|---|
49031 | 7,646 | 25.8 | America/Detroit | 41.89839 | -85.98730 | Cassopolis | Cass County | Michigan |
46514 | 41,616 | 416.8 | America/Indiana/Indianapolis | 41.72343 | -85.97468 | Elkhart | Elkhart County | Indiana |
46530 | 31,843 | 494.1 | America/Detroit | 41.73988 | -86.12742 | Granger | St. Joseph County | Indiana |