49337, Newaygo, MI

The 49337 zip code of Newaygo, Michigan has a population of approximately 10,000 people. The median household income in this zip code is $60,000 and the median home value is $155,000. The average home equity in this zip code is $92,500.

The average home price in the 49337 zip code has increased by 9% over the past year. This increase can be attributed to several factors including an increase in demand for housing due to an influx of new residents into the area and an increase in inventory due to low interest rates. In addition, there have been limited opportunities for homeowners to refinance their homes which has led to a rise in prices.

Despite these increases, homeownership rates remain high in the 49337 zip code with over 80% of households owning their homes. This high rate of homeownership may be attributable to the strong economy and low interest rates which make it more affordable for families to buy homes than rent them. Additionally, many families are able to use their home equity as collateral for a loan which helps them purchase a house more quickly than if they were required to pay cash.