49666, Mayfield, MI

The zip code 49666 in Mayfield, Michigan has a median home value of $122,000. This is higher than the statewide median home value of $117,500. The zip code also has a lower than average rate of home foreclosure at 2.5%. This means that there are more homes that are currently being owned by their original owners than there are homes that are in foreclosure or for sale on the market.

One reason why the home values in this zip code are higher than the statewide median is because there is a greater concentration of high-priced homes in this area. In fact, almost half (47%) of all homes in this zip code have a value above $150,000. This compares to just over one third (35%) of all homes across Michigan having a value above $150,000. Additionally, the percentage of homes with a value below $50,000 is much lower in this zipcode than it is statewide. Just under one fifth (18%) of all homes in Mayfield have a value below $50,000 compared to over one third (36%) of all homes across Michigan.

One reason why the rate of home foreclosure may be lower in this zip code is because there are fewer low-priced housing options available to buyers who might be at risk for defaulting on their mortgage payments. In fact, only 3%of all households living in this zip code fall into the category of “low-income” which compares to over 12%of households across Michigan falling into that category.