51570, Shelby, IA

The Shelby, Iowa 51570 zip code has a population of approximately 9,000 people. The median household income in the zip code is $60,000. The median home value in the zip code is $130,000.

There has been a steady increase in home equity and home prices over the past few years in the Shelby, Iowa 51570 zip code. In 2013, the median home value was $120,000. In 2014, the median home value increased to $130,000. In 2015 and 2016, the median home value increased to $135,000 and $140,000 respectively. This trend is expected to continue into 2017 as well with predictions that the median home value will be at or above $145,000 by year's end.

One reason for this increase in home values is that there are relatively few homes for sale in the Shelby 51570 zip code compared to other areas of Iowa. Additionally, many homes that are for sale have already been sold due to high demand from buyers who want to live in a desirable area like Shelby.

Another factor contributing to this increase in home values is that interest rates have remained low since the financial crisis of 2008-2009 which has made it more affordable for people to buy homes than it was before. Additionally, there has been an influx of new residents into Shelby over recent years which has led to an increase in demand for housing and consequently an increase in prices.

While there are some risks associated with buying a house (e.g., potential market crash), overall homeownership rates are still high which suggests that most people who purchase homes do so with confidence and believe that they will be able to maintain their investment over time."