49799, Wolverine, MI

The zip code 49799 in Wolverine, Michigan has a median home value of $119,000 and a median home equity of $134,000. These numbers are both above the state median home value of $96,500 and the national median home equity of $106,200. The zip code also has a low unemployment rate of 3.5%, which is below the state and national rates.

There are many factors that contribute to the high values in this zip code. The area is affluent and has a high concentration of educated professionals. Additionally, there is strong demand for housing due to the low unemployment rate and increasing wages. Finally, there is limited supply compared to other areas in Michigan, which drives up prices.

Despite these positive factors, there are some challenges facing homeowners in this zip code. One issue is that the area has seen rapid growth over the past few years and property values have increased significantly faster than incomes have risen. This can make it difficult for people who were not able to buy homes before to afford them now. Additionally, there is a lack of available housing stock relative to population growth which can lead to higher prices for existing homes as well as new construction projects.