40763, Siler, KY

The 40763 zip code of Siler, KY has a median home value of $101,000. This is significantly lower than the national median home value of $177,500. The reason for this discrepancy is likely due to the fact that Siler is a rural area with fewer homes and higher prices relative to larger metropolitan areas.

Despite the lower home values, Siler residents have access to a wide range of home equity products and services. These include traditional mortgages, reverse mortgages, HELOCs (home equity lines of credit), and even peer-to-peer lending platforms like Lending Club and Prosper.

This wide variety of products and services may be why Siler has one of the highest rates of homeownership in Kentucky at nearly 87%. Additionally, Siler residents have been able to maintain strong home prices despite economic downturns in recent years. For example, during the Great Recession homeownership declined by almost 10%, but Siler homes remained relatively stable at around 60%.

Overall, it appears that homeownership rates in Siler are high because there are many options available for accessing equity products and services. Additionally, while prices may be lower than larger metropolitan areas, they are still relatively stable given the local economy.