49757, Mackinac Island, MI

Mackinac Island is a picturesque and historic island located in the Straits of Mackinac, just east of Michigan's Lower Peninsula. The island is about 30 miles long and 8 miles wide, with a population of about 1,500 people. The 49757 zip code covers the entire island, making it one of the most densely populated areas on Mackinac Island.

The median home value in the 49757 zip code was $269,000 in 2016. This is much higher than the statewide median home value of $161,200 and significantly higher than the national median home value of $177,600. The highest recorded home values in the 49757 zip code were $419,000 and $460,000. Home values have increased significantly over the past few years due to an influx of new residents and an increase in demand for housing on Mackinac Island.

The average monthly mortgage payment for homes in the 49757 zip code was $1,868 in 2016. This is lower than the statewide average mortgage payment of $2,569 but higher than the national average mortgage payment of $1,669. Despite being more expensive than other areas on Michigan's Lower Peninsula, Mackinac Island remains a popular destination for homeowners looking to purchase or invest property due to its high home values and low monthly payments.