49919, Covington, MI

The 49919 zip code of Covington, MI has a median home value of $128,000 and a median home equity value of $112,000. This is significantly lower than the statewide median home value of $217,500 and the national median home equity value of $181,200. The 49919 zip code also has a significantly lower homeownership rate than both the statewide homeownership rate of 58.7% and the national homeownership rate of 63.9%.

There are several factors that may contribute to the low home values in the 49919 zip code. First, Covington is located in one of Michigan's most economically depressed counties. Second, there are relatively few homes for sale in this zip code compared to other areas of Michigan. Finally, many homes in this zip code are older and may not be in good condition. As a result, it may be difficult for buyers to find a suitable home that meets their needs and budget.