49227, Allen, MI

Home Equity and Home Prices in the 49227 Zip Code of Allen, MI

The zip code of 49227 in Allen County, Michigan has a population of around 97,000 people. The median household income is around $60,000 per year. This means that the home equity and home prices in this zip code are relatively high when compared to other areas of the United States.

As of September 2017, the median home value in this zip code was $269,500. This is significantly higher than the national median home value of $217,500. In addition, the average home equity loan amount in this zip code is $146,000. This means that homeowners in this zip code have a significant amount of equity in their homes.

This high level of equity may be due to several factors. First, Allen County is a relatively affluent area with a high median income. Second, there are relatively few foreclosures or short sales in this zip code which may lead to increased demand for homes and increased values. Finally, many homeowners here have taken advantage of low interest rates over the past few years to borrow money against their homes' values and increase their net worth substantially.