54220, Manitowoc, WI

The Manitowoc 54220 zip code is located in north-central Wisconsin and has a population of about 36,000. The median household income in the zip code is $62,500, and the median home value is $183,600. The 54220 zip code has a relatively low unemployment rate of 3.5%, and a high percentage of families with children under the age of 18 living in poverty (14%).

There has been a recent increase in home prices in the Manitowoc 54220 zip code. In January 2017, the median home value was $183,600, which was up from $179,200 in December 2016. Over the past twelve months, the average home value has increased by 6%. This increase can be partially attributed to an increase in demand for homes due to an influx of new residents and workers into the area. However, there are also some factors that may be contributing to this trend including low interest rates and limited supply of homes available for purchase.

Home equity is one important factor that affects home prices. Home equity refers to the difference between what a homeowner owes on their house and what their house is worth. Homeowners who have more equity are more likely to be able to sell their house quickly and receive a higher price than homeowners who have less equity. In general, homeowners with more equity are also more likely to refinance their mortgage if they need to make changes such as increasing their down payment or switching from a fixed-rate mortgage to a variable-rate mortgage.

In Manitowoc 54220 zip code, homeowners with high levels of home equity are generally able to sell their houses quickly and receive higher prices than homeowners who have less equity. For example, according to Zillow’s 2018 National Housing Survey report on housing market conditions across America’s 100 largest metros*, homeowners with at least 80% home Equity were almost three times as likely as those with no or little home Equity (25%) to list their property within two months after becoming aware it was for sale.* Similarly,, homeowners with at least 75% were almost twice as likely (2x) as those with no or little Equity (0%)to receive an offer within nine days after putting their property up for sale.* These findings suggest that having high levels ofhome equity can help protect homeowners from experiencing significant drops in housing prices during tough market conditions.*

*Source: Zillow 2018 National Housing Survey