49614, Bear Lake, MI

The 49614 zip code of Bear Lake, Michigan has a median home value of $151,000 and a median home equity value of $128,000. This is higher than the statewide median home value of $130,500 and the national median home equity value of $146,200. The Bear Lake zip code also has a lower homeownership rate than the statewide rate of 66.5% and the national rate of 69.2%.

There are several factors that may contribute to these high home values in the Bear Lake zip code. First, Bear Lake is located in an affluent area with a high population density. This means that there are many homes for sale and buyers have more options when choosing a property to purchase. Second, Bear Lake has a low unemployment rate which may lead some people to buy homes as an investment rather than use them as their primary residence. Finally, Bear Lake residents tend to be wealthier than average which may contribute to their high home values.