21213, Baltimore, MD

Home Equity and Home Prices in the 21213 Zip Code of Baltimore, MD

The home equity and home prices in the 21213 zip code of Baltimore, MD are very high. The median home value in this zip code is $269,000, which is more than triple the national median home value of $102,500. In addition, the average home equity loan-to-value (LTV) ratio in this zip code is 95%, which is significantly higher than the national average LTV ratio of 70%. This indicates that many homeowners in this zip code are highly leveraged and riskier than typical homeowners.

Despite these high risks, there are some benefits to being highly leveraged. For example, homeowners in this zip code can often get very low interest rates on their loans due to their elevated risk profile. Additionally, being highly leveraged can help homeowners avoid foreclosure if they experience a financial crisis or unexpected expense. However, there are also risks associated with being highly leveraged. For example, if a homeowner loses their job or their income decreases significantly, they may not be able to repay their mortgage debt and may have to sell their house at a loss.