49819, Arnold, MI

Arnold, Michigan is located in the 49819 zip code. According to the 2010 census, the population of Arnold was 5,812. The median household income in Arnold was $60,971, and the median family income was $68,521. In 2010, there were 1,711 housing units in Arnold. The average home value in Arnold was $128,000.

The average home equity loan amount in Arnold is $101,000. The average home price appreciation rate in Arnold from 2000 to 2010 was 9%. In 2010 alone, the average home value increased by 7%. Home prices have increased faster than inflation since 2000 and continue to do so today. This has led to an increase in homeowners' equity and a decrease in mortgage payments over time.

Homeownership rates are high in Arnold because of its low unemployment rate and strong economy. There are also a number of affordable homes available for purchase within the city limits due to its moderate cost of living index (83). As a result of these factors as well as tight lending criteria by banks and lenders nationwide at this time due to current economic conditions; homeownership rates remain high despite recent market fluctuations which could lead some buyers into foreclosure or short sales if they cannot qualify for a traditional mortgage product at this time.