22192, Woodbridge, VA

The 22192 zip code of Woodbridge, VA has a median home value of $269,000 and a median home equity value of $142,000. This is significantly higher than the national median home value of $177,500 and the regional median home equity value of $130,000. The high home values in this zip code are likely due to the affluent population and excellent schools in this area.

The average monthly mortgage payment for homes in the 22192 zip code is $1,564 which is lower than the national average mortgage payment of $1,829. This may be due to the low interest rates currently available or because many homeowners in this area have good credit ratings. Additionally, many homeowners in this zip code are able to get favorable terms on their mortgages through government programs like FHA or VA loans.

Despite the high home values and favorable mortgage terms, there are still some risks associated with owning a home in the 22192 zip code. One risk is that if interest rates rise above historic averages or if there are any other economic downturns that affect housing prices throughout Virginia, homeowners could find themselves struggling to pay their mortgages. Another risk is that if one member of a household loses their job or cannot afford to keep up with their payments on their mortgage, they could end up losing their house. Finally, although property taxes in this area are relatively low compared to other parts of Virginia (about 1% of assessed value), they can still add up over time if you own a large house or have multiple properties within the same zip code.