26705, Aurora, WV

Aurora, WV is located in the Eastern Panhandle of West Virginia. The 26705 zip code covers an area of about 10 square miles. As of the 2010 census, the population was 5,898. Home prices in this zip code have increased significantly over the past several years. In 2013, home prices were $143,000 on average. This increased to $183,000 in 2014 and $236,000 in 2015. As of 2016, home prices are estimated to be at $248,000 on average.

The primary drivers of home price appreciation in Aurora are strong economic fundamentals and limited supply. The city has a strong economy with a median household income above the national median and a low unemployment rate. Additionally, there is very little new development available for sale or rent within the 26705 zip code which contributes to elevated demand for housing units.

While there are some potential risks associated with high home prices such as potential market saturation or increased risk of default among borrowers who may be unable to afford higher payments, these risks appear to be outweighed by long-term benefits such as equity accumulation and improved financial stability overall. Overall, it appears that home values in Aurora will continue to increase over time as market conditions continue to support growth