52653, Wapello, IA

Home Equity and Home Prices in the 52653 Zip Code of Wapello, IA

The home equity and home prices in the 52653 zip code of Wapello, IA are reflective of the overall market conditions in the area. Over the past year or so, there has been a general trend of decreasing home equity values and prices across most zip codes in Iowa. This is likely due to a number of factors including low interest rates, increasing mortgage rates, and stricter lending criteria. In general, homes that are closer to major metropolitan areas tend to have higher values than homes located in more rural areas.

According to Zillow’s recent report on Iowa home values, the median home value in Wapello is $139,900 which is lower than both the statewide median ($174,500) and national median ($177,600). However, when looking at specific neighborhoods within Wapello (such as Riverside or Northwood), median home values can be considerably higher than this figure. Riverside has a median value of $236K while Northwood has a median value of $269K.

When it comes to mortgages rates, there has been an increase across all types of loans over the past year or so. Rates for 30-year fixed-rate mortgages have increased by about 0.5% nationally over this time period while rates for 15-year fixed-rate mortgages have increased by about 1%. Rates for 10-year fixed-rate mortgages have also increased by about 1%, but they remain relatively low when compared to historical averages.

As far as buying a house goes – there are many factors that go into determining whether or not someone will be able to purchase a house within Wapello. Some key things that could impact someone’s ability to buy a house include their credit score (which can be impacted by recent debt payments), their income (which could vary depending on how much money they make each month), and their down payment (which could be limited depending on their income). Overall though – it appears that there are still plenty of houses available for sale within Wapello at reasonable prices relative to other areas across Iowa.