48120, Dearborn, MI

Dearborn, Michigan is a city located in Wayne County. As of the 2010 census, the city had a population of 97,971. The 48120 zip code covers much of Dearborn and has a population of approximately 71,000 people. Home equity is an important part of the American dream for many people and home prices are often seen as one indicator of success.

There are a number of factors that can affect home equity values in any given area. In Dearborn, median home values have increased by over 20% since 2007 according to Zillow data. This increase is likely due to strong demand from buyers and limited supply in the area combined with low interest rates during that time period. However, there have been some recent fluctuations in home values which may be indicative of market volatility more generally.

Despite these fluctuations, overall Dearborn home equity values remain relatively high when compared to other areas across the country. According to Zillow data, the median value for homes in Dearborn was $151,200 as of February 2018 which is significantly higher than the national median value ($128,500). Additionally, while there has been an increase in prices over the past few years it remains below average inflation rates which means that homeowners are still able to achieve significant gains over time through appreciation (Zillow).

While it’s important to keep in mind that individual home values can vary greatly depending on location and other factors, overall trends suggest that homeownership remains an attractive option in Dearborn and elsewhere across Michigan.