24882, Simon, WV

The 24882 zip code of Simon, WV has a median home value of $119,000 and a median home equity of $86,000. These values are significantly lower than the national median home value of $217,500 and median home equity of $123,000. The primary factors contributing to the low home values in this zip code are the high levels of unemployment and poverty. Approximately 30% of residents in this zip code live below the poverty line, which is significantly higher than the national average of 15%. Additionally, Simon has one of the highest levels of unemployment in West Virginia at 14%. This high level of unemployment has led to a decrease in demand for homes and consequently a decrease in home prices.

Despite these low home values, there are still some homeowners who have benefited from rising prices over the past few years. Homeowners who have been able to maintain their homes over this time period have seen their property values increase by an average of 7%. Those who have sold their homes during this time period have seen an even greater increase – an average increase of 16%. Despite these increases, however, it is clear that most homeowners in this zip code are not seeing significant gains from their investments in their homes.