49247, Hudson, MI

The zip code 49247 in Hudson, Michigan has a median home value of $130,000 and a median home equity of $81,000. This is significantly lower than the statewide median home value of $217,500 and statewide median home equity of $142,700. The following factors may contribute to these low values:

-The population in the zip code is primarily made up of people over the age of 55. These older residents are more likely to have less money saved up for a down payment on a house and may be more likely to need to sell their house quickly in order to maintain their monthly mortgage payments.

-There is a high concentration of rental properties in the zip code. Many people who live in this area do not own their homes outright and are instead renting them from private landlords. This means that there is not as much demand for homes here as there would be if more homeowners were present. Additionally, many people who do own homes in this area may be underwater on their mortgages - meaning that they owe more on their house than it is worth - which could also lead to lower home values.