49861, Michigamme, MI

Michigamme, MI is located in the southern portion of the Lower Peninsula of Michigan. The zip code 49861 has a population of approximately 10,000 people and an average home value of $128,000. Home equity is a valuable asset for many homeowners in Michigamme.

Home equity can be used to pay off debt, purchase additional assets such as stocks or real estate, or withdraw cash for short-term needs. Homeowners who have built up significant equity in their homes are generally more confident about their financial future and are less likely to need to take on additional debt.

The average home value in Michigamme has increased by 7% over the past year. This trend is likely due to strong economic conditions and low interest rates. Michigamme homeowners who have built up significant equity in their homes are likely benefitting from this trend.