49707, Alpena, MI

The 49707 zip code of Alpena, Michigan is located in the lower peninsula of the state and has a population of approximately 10,000. The median household income in this zip code is $51,000 and the median home value is $142,500. The percentage of homes that are owner-occupied is approximately 68%, while the percentage of homes that are renter-occupied is approximately 32%.

There has been a recent increase in home equity and home prices in the 49707 zip code. In 2016, the median home value increased by 7.5% from 2015 levels and the median home equity increased by 9.8%. This trend appears to be continuing into 2017 as both values have increased by an additional 5%. It should be noted that while these increases are significant, they are not out of line with trends seen throughout Michigan or nationwide. Additionally, it should be noted that there are still many homeowners who have negative equity in their homes (meaning their homes are worth less than what they owe on them). This indicates that there may still be opportunities for potential homeowners to improve their situation through refinancing or through other means.

While there has been an increase in home values and equity within the 49707 zip code over recent years, it should also be noted that this does not represent all residents within this area. There remains a large number of homeowners who have negative equity in their homes which indicates that there may still be opportunities for potential buyers to improve their situation through refinancing or through other means. Additionally, it should also be noted that while prices have increased significantly over recent years, they remain relatively affordable when compared to other areas within Michigan or nationwide.