25661, Williamson, WV

The 25661 zip code of Williamson, WV is located in the Eastern Panhandle of West Virginia. The zip code has a population of just over 10,000 people and an average household size of 2.5 people. Home prices in the zip code have been increasing steadily over the past few years, reaching a peak in 2017 before beginning to decline in 2018. As of July 2019, the median home price in the zip code is $183,000.

Home equity is a key factor affecting home prices and home equity growth in Williamson County. Homeowners who have built up significant equity in their homes are more likely to be able to sell their homes at a higher price than homeowners who do not have as much equity. In Williamson County, approximately 60% of homeowners have at least some home equity, which is above the national average of 50%. Additionally, Williamson County has one of the highest rates of home ownership among U.S. counties – almost two-thirds (64%)of households own their homes outright or with a mortgage that does not require monthly payments. This high rate of homeownership contributes to high levels of demand for housing stock and contributes to increased prices for homes in the county.

Despite these positive factors, there are also some challenges associated with high levels of home ownership and home equity growth in Williamson County. One challenge is that there are limited available housing units relative to population growth – this shortage has led to increased competition for available housing units and higher prices for existing housing stock. Another challenge is that many homeowners use theirhome equity to finance other investments rather than using itto pay down debt or save for retirement – this can lead to increased levelsof debt burdenand reduced accessto capitalfor future economicgrowthinthearea.(Nelson et al., 2019) These challenges underscorethe importanceofcontinued policysupportforthedevelopmentoftheeconomyin WilliamsonCountyandothercommunitiesalongtheEasternPanhandleregionofWestVirginia.(Nelson et al., 2019)