50514, Armstrong, IA

Armstrong, Iowa is located in Polk County and has a population of just over 7,000. The zip code 50514 has a median household income of $55,000 and a median home value of $135,000. Home equity in Armstrong is relatively high compared to other zip codes in Iowa. In fact, the average home equity in Armstrong is almost three times the statewide average.

One reason for this high level of home equity may be the low unemployment rate in Armstrong. The unemployment rate in Armstrong was just 2.4% as of May 2017, which is much lower than the statewide unemployment rate of 3.3%. Additionally, Armstrong has seen strong growth over the past few years thanks to its strong agricultural economy. This growth may have helped to increase home values and increase homeowners' equity levels.

Another factor that may contribute to high levels of home equity in Armstrong are the low rates of foreclosure activity in the area. As of March 2017, only 0.7% of all homes in Armstrong were subject to foreclosure proceedings – far below the statewide foreclosure rate of 1%. This low level of foreclosure activity may help to keep prices high and protect homeowners' investments in their homes.