48866, Ovid, MI

The zip code of 48866 in Ovid, Michigan has a median home value of $128,000 and a median home equity value of $101,000. The average home price in the zip code has increased by 7.5% over the past year. In addition, the number of homes sold in the zip code over the past year has increased by 6%. This increase is likely due to an increase in demand for housing within this area as well as an increase in available inventory.

Home equity is important because it allows homeowners to borrow against their homes and use that money to pay off other debts or invest in other assets. Home equity can also be used to pay for expenses such as college tuition or a down payment on a house. In addition, homeowners who have high levels of home equity are more likely to stay in their homes during tough economic times. This is because they know that they have enough money saved up to cover any unexpected costs associated with owning a home.

Overall, it appears that there is strong demand for housing within the 48866 zip code and that prices are continuing to rise. This suggests that there may be opportunities for buyers who are looking for affordable housing close to major metropolitan areas while still having access to good quality amenities such as schools and jobs.