26041, Moundsville, WV

The 26041 zip code of Moundsville, WV has a median home value of $109,000. This is significantly lower than the national median home value of $177,500. The 26041 zip code also has a lower home equity percentage than the national average of 63%. This indicates that there are more homes in this zip code that are worth less than their outstanding mortgage debt.

There are several factors that could contribute to the low home equity percentage in the 26041 zip code. One possibility is that there are more homes in this zip code that have been foreclosed on or are in foreclosure status. Another possibility is that there are more homes in this zip code that have been purchased with cash rather than using traditional financing methods such as mortgages. Either of these factors could lead to a lower home equity percentage because it means that the amount of money available to be used to pay off debt is smaller.

Despite the low home equity percentage, homeowners in the 26041 zip code still have a significant amount of wealth relative to most Americans. The average homeowner in this zipcode has an outstanding mortgage debt of only $101,000, which is much lower than the national average mortgage debt of $217,500. Furthermore, homeowners in this zipcode have an average net worth of $247,000, which is much higher than the national average net worth of $141,000. These statistics indicate that despite having less money available to use for other purposes, homeowners in this area are doing relatively well financially overall.