49777, Presque Isle, MI

The 49777 zip code of Presque Isle, MI has a median home value of $129,000. This is lower than the statewide median home value of $168,500. The 49777 zip code also has a lower than average home equity percentage of 56%. This means that there are more homes in this zip code that are worth less than their original purchase price.

The 49777 zip code has a low home prices compared to other areas in Michigan because it is located in an area with a low population density and few major employers. The lack of demand for homes in this area may be contributing to the low home prices. Additionally, the recent recession may have caused some homeowners to default on their mortgages and sell their homes at below market rates.