25880, Mount Hope, WV

The 25880 zip code of Mount Hope, WV is located in the Eastern Panhandle of West Virginia. The zip code has a population of just over 2,000 people and an average home value of $101,000. Home equity in this zip code is relatively high compared to other areas in West Virginia. In fact, according to Zillow’s 2018 Home Value Index report, the home equity in this zip code is $128,700. This is higher than the statewide median home equity of $106,200 and higher than the national median home equity of $105,800.

One reason for this high level of home equity may be that Mount Hope is a desirable location. The city has a population density of just under 10 people per square mile and a median age of 36 years old which are both below the state average and below the national average. Additionally, Mount Hope has a low unemployment rate (3%) and a high percentage of college graduates (38%). These factors may contribute to the high level of home equity in this area.

Another factor that may contribute to the high level of home equity in this area is low interest rates. According to Zillow’s 2018 Interest Rate Report , interest rates on mortgages were 3% lower in Mount Hope than they were statewide and nationwide. This may make it more affordable for homeowners to borrow money against their homes than it would be elsewhere in West Virginia or nationally.

Despite these factors, there are some caveats that should be taken into account when assessing home equity levels in this area: firstly, there are relatively few homes available for sale within the 25880 zip code so prices could potentially decline if more homes become available; secondly, although interest rates are low now relative to historical norms, they could change at any time and increase costs associated with borrowing money against yourhome; finally, although Mount Hope has many desirable features which may contribute to its high levelofhomeequity , other areas with similar characteristics might not have as high a levelofhomeequity .