48109, Ann Arbor, MI

Ann Arbor, Michigan is a city that has seen its share of ups and downs in terms of its economy. However, one thing that has remained consistent is the high home equity and home prices in the 48109 zip code. In fact, according to Zillow, the median home value in this zip code is $269,900. This high median home value reflects the overall health of the housing market in Ann Arbor.

One reason for this strong housing market may be due to Ann Arbor's status as a college town. Many people who live in Ann Arbor are students or recent graduates who are looking for affordable housing close to their schools and other amenities. Additionally, many people who live in Ann Arbor own their homes outright which gives them more stability when investing in property.

Despite these positive factors, there are some risks associated with owning a home in Ann Arbor. For example, if you're not able to keep up with your mortgage payments then you could face foreclosure proceedings or even lose your home altogether. Additionally, if the economy takes a downturn then prices could fall significantly which would also impact homeownership rates in this area. However, overall it seems that homeownership rates are relatively stable compared to other areas of the country so long as you can afford your monthly mortgage payments and don't experience any major economic setbacks