49721, Cheboygan, MI

In the 49721 zip code of Cheboygan, MI, home equity and home prices are both high. In fact, according to Zillow, the median home value in this zip code is $167,500. This is a significantly higher median home value than the statewide median home value of $145,000. Additionally, the percentage of homes in this zip code that are worth more than $200,000 is above the statewide percentage of homes that are worth more than $200,000 by almost 10%.

One reason for this high level of home equity and home prices in the 49721 zip code of Cheboygan may be due to its relatively affluent population. The percentage of adults in this zip code who have at least a bachelor's degree is above the statewide percentage of adults who have at least a bachelor's degree by almost 20%. Additionally, the percentage of adults in this zip code who earn over $75,000 per year is also above the statewide percentage of adults who earn over $75,000 per year by almost 10%. These factors may contribute to higher levels of wealth and income which can lead to increased demand for housing and increased prices for homes.