49853, McMillan, MI

Home Equity in McMillan, MI

According to the 2016 American Community Survey, the median home equity in McMillan is $151,000. This means that half of all homes in this zip code have more equity than the median value. Additionally, McMillan has a low rate of home ownership at just 54%. This means that many people are using their home equity to finance other investments or debts.

The average price of a home in McMillan is $128,000. However, there is a wide range of prices from just under $100,000 to over $300,000. The majority of homes in this zip code are priced between $150,000 and $200,000. There are also a few homes priced over $300,000 but these are very rare.

Home Prices in McMillan Zip Code 49853

There has been an increase in home prices over the past few years in McMillan zip code 49853. The average price of a home increased by 7% between 2014 and 2016 alone. This trend seems to be continuing as the average price for a home currently stands at $158,500 which is up from $153,250 only two years ago.

It is important to note that while there has been an increase in prices overall there has also been an increase in inventory levels which indicates that not everyone who wants to buy a house can do so right now due to high demand and limited supply. This could lead to further increases in prices if no new houses are built for some time which is something that we will have to watch closely!