49950, Mohawk, MI

The 49950 zip code of Mohawk, MI has a median home value of $101,000 and a median home equity value of $128,000. This is significantly higher than the statewide median home value of $79,500 and statewide median home equity value of $102,500. The 49950 zip code also has a significantly higher than average percentage of homes with mortgages at 81%. This indicates that homeowners in this zip code are more likely to have access to ample credit to purchase or improve their homes.

The 49950 zip code also has a significantly lower than average percentage of homes without mortgages at 14%. This indicates that homeowners in this zip code are more likely to be able to afford to pay for their homes without having recourse to outside sources such as loans or grants. Additionally, the 49950 zip code has a significantly lower than average percentage of homes with negative equity at 2%. This indicates that homeowners in this zip code are more likely to have enough equity in their homes to cover any potential financial setbacks.

Overall, it can be seen that homeowners in the 49950 zip code have considerably greater access to resources necessary for purchasing or improving their homes than homeowners statewide. Additionally, it can be seen that homeowners in this area are more likely to maintain positive equity in their homes relative to other areas across Michigan.