52557, Fairfield, IA

The 52557 zip code of Fairfield, IA has a population of around 27,000 people. The median household income in this zip code is $75,000 which is higher than the Iowa median household income of $60,000. The home equity and home prices in this zip code are both high. As of December 2017, the home equity in this zip code was $269,500 and the home prices were $359,900. This means that the homeowners in this zip code have a lot of equity in their homes and are able to sell them for a high price.

One reason why the homeowners in this zip code have a lot of equity in their homes is because there are a lot of expensive homes available for sale in this area. The average list price for homes sold in Fairfield during 2017 was $359,900 which is significantly higher than the Iowa average list price of $227,500. This means that if you want to buy a house in Fairfield, you will likely need to spend at least half a million dollars on it. Additionally, there are not many low-priced houses available for sale in this area which means that if you want to buy one, you will likely need to spend even more money on it.

Another reason why the homeowners in this zip code have a lot of equity in their homes is because they can borrow against their home equity to finance purchases or repairs. As of December 2017, the average mortgage rate for properties located within ZIP Code 52557 was 3.92%. This means that if you want to borrow money against your home equity to purchase or repair your property, you will likely be able to do so at an affordable rate.