51544, Lewis, IA

The 51544 zip code of Lewis, IA has a median home value of $119,000. This is significantly lower than the Iowa median home value of $183,500. The 51544 zip code also has a significantly lower home equity percentage than the Iowa state average of 56%. This indicates that there are more homes in this zip code that are worth less than their mortgages.

One possible explanation for this discrepancy is that the homes in the 51544 zip code are older and may have been built before stricter lending standards were in place. Additionally, many homeowners in this area may be struggling to make their mortgage payments and may be looking to sell their homes at a discount to avoid foreclosure.

Despite these challenges, there are still some homeowners in the 51544 zip code who are able to maintain a significant equity in their homes. These homeowners may be able to use their home equity as collateral for a new loan or they may choose to use it as an investment opportunity by purchasing another property within the same area.