52242, Iowa City, IA

Home Equity and Home Prices in the 52242 Zip Code of Iowa City, IA

The home equity and home prices in the 52242 zip code of Iowa City, IA are very high. The median home value in this zip code is $269,000, which is more than triple the national median home value of $102,000. Additionally, the percentage of homes that are owner-occupied in this zip code is significantly higher than the national average of 63%. This indicates that many residents in this zip code are able to afford to buy or rent a home.

The high home values and homeownership rates in this zip code may be due to several factors. First, Iowa City has a relatively low unemployment rate (3.4%) compared to other cities across the country. Second, there is a strong demand for housing due to its large population (approximately 58,000 residents). Third, Iowa City has a relatively low cost of living index (50) compared to other cities across the country. Finally, Iowa City has a strong economy with an abundance of jobs and businesses. These factors may contribute to why homes in this zip code are so expensive and why homeownership rates are so high.