Union, IA is located in Polk County and has a population of just over 10,000. The median household income in the 50258 zip code is just under $50,000 and the median home value is just over $130,000. Union has seen a significant increase in home equity values over the past several years, with values increasing by an average of 18% between 2013 and 2016. This growth has been particularly pronounced in recent years, with values increasing by an average of 29% between 2015 and 2016. There are a number of factors contributing to this increase in home equity values in Union. First, Union is located within a desirable area that is experiencing strong economic growth. Second, there are relatively few homes for sale in the 50258 zip code, which has led to increased demand for property. Third, Union residents have been able to leverage their home equity to purchase additional property or invest in other assets (such as stocks or bonds) through the use of HELOCs (home equity loans). Fourth, Union residents have generally been able to maintain their homes well – which has helped to keep prices high – and there have been very few foreclosures or short sales within the past few years. Despite these positive trends, there are some risks associated with rising home equity values in Union. First, if interest rates rise significantly from their current levels – which is possible given current market conditions – then homeowners could find themselves struggling to pay off their debts obligations. Second, if there were another housing market crash like we saw during the 2008 recession then many homeowners could find themselves facing significant losses on their investments. Finally, although Union residents have generally been able to keep up with rising prices by using their home equity wisely it’s possible that some may not be able to do so if interest rates suddenly go down or if there are more defaults on mortgages within the community