49259, Munith, MI

The Munith zip code 49259 has a median home value of $128,000 and a median home equity of $112,000. This is significantly higher than the state median home value of $116,500 and the national median home equity of $102,200. The zip code also has a high percentage of homeowners with a mortgage (68%), which is above the state and national averages.

One reason for this high level of homeownership may be the low unemployment rate in Munith. The unemployment rate in 49259 was 2.4% in December 2017, which is lower than both the Michigan average (3.9%) and the national average (4%). Additionally, there are many jobs available in Munith that pay well above the state and national averages. In December 2017, the average wage in 49259 was $75,872, which is more than double the Michigan average wage ($30,594) and almost triple the national average wage ($42,880).

Despite these strong economic indicators, there are some indications that housing prices may not be reaching their peak yet in 49259. For example, according to Zillow’s Home Value Index data from January 2018*, Munith’s home values are still rising faster than most other ZIP codes across Michigan and nationwide*. Additionally, while mortgage rates have been on an upward trend over recent years*, they remain relatively low compared to historical norms*. These factors suggest that housing prices could continue to rise in 49259 over time.*