15658, Ligonier, PA

The 15658 zip code of Ligonier, PA is located in the heart of Pennsylvania's coal country and has seen its home equity and home prices rise significantly in recent years. The median home value in the zip code is $151,000, up from $130,000 just five years ago. In addition, the average home equity loan-to-value (LTV) ratio in the area is currently at an all-time high of 97%. This means that nearly one out of every three homes in this zip code has a mortgage that is greater than 100% of the property's value.

While there are many factors contributing to this trend, one key factor is likely the strong economy. Since 2007, when the recession began, employment levels have steadily increased throughout Pennsylvania and Ligonier has been no exception. As a result, more people are able to afford homes and borrow against them even if their incomes are not as high as they used to be. Additionally, interest rates have remained relatively low throughout much of this time period which has helped to increase homeownership rates and drive up home values even further.

However, while these trends are positive for homeownership rates and home values overall in 15658 zip code, they may not be sustainable over the long term. If interest rates begin to rise or if employment levels start to decline again (as they have done before), then many homeowners who rely on high levels of equity in their homes will find themselves struggling to keep up with payments or sell their homes for a fair price. In short, while current trends are very positive for homeownership rates and home values in 15658 zip code right now, it's important for residents to stay vigilant so that these trends can continue into the future without any major disruptions