50677, Waverly, IA

When people think of home equity, they often think of the value of their home. But what about the value of the home equity in their neighborhood?

According to Zillow, the median home value in Waverly is $139,900. This means that half of all homes in Waverly are worth more than this amount, and half are worth less.

However, when you look at the median home equity for a ZIP code, Waverly falls far behind. The median home equity for ZIP code 50677 is only $27,500. This means that almost three quarters (72%) of homes in this ZIP code have less equity than what is required to buy a house outright.

This low level of equity may be due to several factors. For one thing, there are a lot more homes that are worth less than $139,900 in Waverly than there are homes that are worth more than this amount.

Another reason why Waverly's homeownership rate may be lower than other areas is because there is a greater percentage of renters living in this ZIP code than there is in most others.

So while it's true that homeownership rates vary greatly from area to area, it's also important to consider how much equity each individual homeowner has relative to other homeowners in his or her neighborhood.