49963, South Range, MI

The 49963 zip code of South Range, Michigan is located in the southeastern corner of the state and includes a mix of small towns and large cities. The population of the zip code is just over 21,000 people, making it one of the smaller zip codes in Michigan. Home prices in this zip code have been relatively stable over the past few years, with an average home price of $128,000 as of September 2017.

One reason for this stability may be that there are not a lot of new homes being built in this area. In fact, according to Zillow’s Housing Market Report for ZIP Codes within 50 miles of Detroit (which includes South Range), only 2% of homes were built in 2016. This lack of new construction may also be contributing to the stability in home prices because it means that there is not a lot of competition for homes on the market.

Another factor that may be contributing to stable home prices in this area is low unemployment rates. As of September 2017, unemployment rates were only 3% which is much lower than the statewide rate (5%) and most other areas within 50 miles from Detroit (6-7%). This low unemployment rate may help to attract buyers who are looking for a stable investment rather than one that will fluctuate based on market conditions.

Overall, home prices in South Range have been relatively stable over recent years and seem likely to remain so for some time into the future. While there are some factors that could cause prices to change (a rise in interest rates or an increase in new home construction), at present these seem unlikely to have a significant impact on overall pricing trends.