49233, Cement City, MI

The 49233 zip code of Cement City, MI has a population of approximately 2,000 people. The median household income in this zip code is $41,500 and the median home value is $104,900. Home equity in this zip code is relatively low compared to other areas of Michigan. The average home equity in Michigan is $141,200. This means that the majority of homes in the 49233 zip code have less than half of their original value remaining.

One reason for this low home equity may be due to the fact that many homes in this zip code are older and have been in the same family for generations. Additionally, many homes here were purchased during the housing boom years and have since experienced significant depreciation. As a result, many homeowners in the 49233 zip code are struggling to make payments on their mortgages and are facing foreclosure proceedings or other financial difficulties.

Despite these challenges, there are some homeowners who are doing well financially thanks to their home equity. These homeowners may be able to use their home equity as collateral for a loan or take out a second mortgage to increase their liquidity situation. In addition, some homeowners may be able to sell their home at a higher price than what they originally paid for it thanks to its high home equity value.