50312, Des Moines, IA

Home Equity and Home Prices in the 50312 Zip Code of Des Moines, IA

The home equity and home prices in the 50312 zip code of Des Moines, IA are very high. In fact, according to Zillow, the median home value in this zip code is $287,000. This is a far cry from the median home value of $146,000 that is found throughout Iowa. The high home values in this zip code likely reflect the strong economy that is currently present in Des Moines. Additionally, many homeowners here may be able to afford to pay off their mortgages relatively quickly given the high incomes that are present in this area.

While there are certainly benefits to having a high home equity and home prices, there are also some potential risks associated with these factors. For example, if interest rates were to increase significantly (which they have been known to do from time to time), then it could be difficult for homeowners who owe a lot of money on their mortgages to keep up with their payments. Additionally, if someone were to lose their job or experience other financial difficulties, they might find it difficult to maintain their current level of housing affordability.