51105, Sioux City, IA

The Sioux City, IA zip code 51105 has a population of around 100,000 people and is located in the southeast corner of Iowa. The median home value in this zip code is $128,900 which is significantly higher than the national median home value of $157,600. This high home value has resulted in a high level of home equity for residents in this zip code. In fact, over 60% of households in this zip code have at least some equity in their homes.

One reason why the home equity levels are so high in this zip code is because there are a lot of affluent households living here. The median household income in this zip code is $87,500 which is significantly higher than the national median household income of $59,500. Additionally, nearly half (47%) of households here have an annual income above $100,000 which is also very high compared to the 31% national average. Therefore, it's not surprising that so many households have a lot of equity in their homes.

Another factor that contributes to the high level of home equity in this zip code is the low rate of foreclosure activity here. In fact, only 2% of all housing units here are currently occupied by someone who has been foreclosed on which is much lower than the nationwide foreclosure rate of 5%. This low foreclosure rate has helped to keep prices high and allowed many homeowners to maintain a significant amount of equity in their homes.

Overall, it's clear that there are many reasons why the home values and home equity levels are so high in the Sioux City 51105 zip code. The affluent population and low foreclosure rate combined with low interest rates have resulted in a lot homeowners having a lot more equity in their homes than usual.