51440, Dedham, IA

The home equity and home prices in the 51440 zip code of Dedham, IA are reflective of the overall market conditions in the area. The median home value in this zip code is $151,900, which is lower than the statewide median home value of $216,500. Additionally, the percentage of homes that are owner-occupied is lower than the statewide percentage of owner-occupied homes at 63%. This indicates that there may be a higher demand for rental properties in this zip code.

Despite these market conditions, there are a number of homeowners who have benefited from rising home values over the past few years. In fact, according to Zillow’s recent report on U.S. Home Values & Trends, Dedham has seen one of the highest growth rates in Iowa over the past year (+5%). This strong growth has helped to increase homeowner equity by 7% since 2016 and has pushed Dedham’s homeownership rate up to 63%.

While homeownership rates may be high in Dedham, it is important to keep in mind that not all homeowners are experiencing positive equity growth. According to Zillow’s report on U.S. Home Values & Trends, approximately 10% of homeowners nationwide have seen their equity decline since 2016 – which includes both those whose homes have decreased in value and those whose homes have increased but not yet reached their original purchase price (i.e., “upside down” homeowners). Therefore, while it is likely that most homeowners in Dedham are doing well financially relative to other areas across Iowa and nationwide, there remains a risk for some individuals who may experience negative equity changes if housing prices continue to rise rapidly or if interest rates rise significantly from their current levels (which they could do given current economic conditions).