52501, Ottumwa, IA

The 52501 zip code of Ottumwa, IA has a population of approximately 16,000 people. The median household income in the 52501 zip code is $54,000 and the median home value is $128,000.

Since 2007, the home equity and home prices in the 52501 zip code have increased significantly. In 2007, the median home value was $92,500 and the median home equity was $48,500. By 2016, the median home value had increased to $128,000 and the median home equity had increased to $83,700. This significant increase in home values can be attributed to several factors including low interest rates and increasing demand for homes in Ottumwa.

While there are many reasons whyhome values have increased in the 52501 zip code over the past few years, one ofthe most important factors is undoubtedly low interest rates. Since 2007, interest rates have decreased significantly from 10% to 2%. This has made it more affordable for people to borrow money to purchase a house and has also led to an increase in homeownership rates throughout Iowa. Additionally, Ottumwa is a growing city which is attracting new residents who are able to afford higher-priced homes. As a result of these factors combined with strong demand from buyers and limited supply of homes available for sale due to zoning restrictions ( Ottumwa is a designated urban growth area),home values have continued to rise over time.