53403, Racine, WI

The Racine, WI 53403 zip code has a population of around 116,000 people and a median home value of $145,000. Home equity in this zip code is relatively high compared to other areas in the country. In fact, according to Zillow’s 2018 Home Value Index, the Racine area ranks as the fifth most valuable zip code in the United States.

One reason for this high home equity is that Racine is a relatively affluent area. The median household income in this zip code is $59,000, which is above the national average of $53,046. Additionally, about 38% of households in this zip code have at least one college degree, which is higher than the national average of 31%. This high level of education and wealth has led to strong demand for homes in Racine. As a result, home prices have been steadily increasing over the past few years.

One downside to having such high home equity in Racine is that it can be difficult to borrow money against your home equity. This is because there are relatively few lenders available in this area and they tend to be more expensive than elsewhere. Additionally, interest rates on loans taken out against your home equity may be higher than average because of the risk associated with investing money in real estate markets that are often volatile.