49646, Kalkaska, MI

The Kalkaska zip code, 49646, has a population of just over 2,000 people. The median household income in the zip code is just over $50,000. Home prices in the zip code have been increasing steadily for the past few years, reaching a peak of $179,900 in 2016. However, home prices have decreased slightly since then and are currently estimated at $173,500.

There are several factors that may be contributing to the increase in home prices in the Kalkaska zip code. First and foremost is the strong economy – jobs are plentiful and wages are rising. Additionally, there is a limited supply of homes available for sale which has driven up prices. Finally, many people who live in the Kalkaska zip code are wealthy enough to afford high-priced homes – there is not a large population of low-income earners who would be affected by any decrease in home values.

Despite the increase in home values over recent years, it is important to keep in mind that home equity does not equate to financial security – if you lose your job or find yourself unable to pay your mortgage on time due to an unexpected expense such as a car accident or medical bill, your home equity could quickly become worthless. It is also important to remember that while homeownership rates have been declining nationwide for some time now (in part due to high housing costs), they remain relatively high in Kalkaska – so if you're looking for an opportunity to buy a house without having to worry about mortgages or other financial obligations associated with owning property, this may not be the best area for you.