49636, Glen Arbor, MI

The zip code of 49636 in Glen Arbor, Michigan has a median home value of $191,000 and a median home equity value of $142,000. These values are higher than the state median home value of $146,600 and the national median home equity value of $177,200. The average monthly mortgage payment for homes in this zip code is $1,811 which is lower than the state average mortgage payment of $2,527 and the national average mortgage payment of $2,729. This suggests that homeowners in this zip code are able to afford their homes relatively easily.

Another indication that homeowners in this zip code are able to afford their homes is the fact that there is an extremely low rate of foreclosure activity in this area. In 2016 there were only 2 foreclosure filings which is far lower than the statewide rate of 11% and the national rate of 5%. This indicates that most homeowners in this area are able to keep their homes even if they experience some financial difficulties.

Overall it can be said that homeownership rates are high in Glen Arbor and there is little evidence to suggest that borrowers here are struggling to repay their mortgages. This suggests that buying a home in this area may be a good investment option for those who are looking for stability and security in their financial future.