52403, Cedar Rapids, IA

The Cedar Rapids zip code 52403 has a population of about 128,000 people and a median household income of $60,000. The home equity in this zip code is $252 million, which is about twice the national average. The home prices in this zip code are also much higher than the national average, with homes selling for an average of $236,500.

One reason why the home equity in this zip code is so high is because there are a lot of affluent residents living in this area. About 38% of the households in this zip code have incomes over $100,000 per year, which is much higher than the national average of 23%. Additionally, there are a lot of wealthy investors who live in this area and purchase homes to rent out or sell quickly for a profit. This has led to an increase in demand for homes and consequently an increase in home prices.

Another reason why the home prices in this zip code are so high is because there are limited options for buyers who want to purchase a home here. There are only about 2,500 homes available for sale each year compared to the more than 6 million homes that are available nationwide. Consequently, buyers who want to purchase a home here have to be willing to pay top dollar for it.