05101, Bellows Falls, VT

The Bellows Falls, VT zip code of 5101 has a median home value of $175,000 and a median home equity value of $128,000. This makes the 5101 zip code one of the more affordable areas in Vermont. Additionally, the median household income in the 5101 zip code is $57,500 which is well below the statewide median household income of $71,600. This indicates that there are a large number of households in the 5101 zip code that are struggling to make ends meet.

One reason why many households in the 5101 zip code are struggling is because there has been a decline in both home values and home equity values over the past few years. In fact, between 2012 and 2016 alone, home values decreased by 8% while home equity values decreased by 10%. This indicates that many homeowners in the 5101 zip code are facing significant challenges when it comes to their ability to pay off their mortgages or take out additional loans to purchase additional property.

In addition to declining home values and equity values, there have also been increases in interest rates over this same period of time. As a result, homeowners who were relying on low interest rates to help them pay off their mortgages or take out additional loans have now seen those rates increase significantly. This has made it much more difficult for these homeowners to stay afloat financially and has led to an increase in delinquencies and foreclosure filings within the 5101 zip code.

Overall, it is clear that there are many households within the5101 zip code that are facing significant financial challenges. These challenges include declining home values and equity values as well as increasing interest rates which have made it harder for these homeowners to payoff their mortgages or take out additional loans.