54555, Phillips, WI

The Phillips zip code 54555 has a population of about 2,500 people. The median household income in the zip code is $51,000 and the median home value is $171,500. The percentage of homes that are owner-occupied is about 68%.

There has been a gradual increase in home equity values over the past five years. In 2012, the median home equity value was $147,000. This increased to $158,000 in 2014 and then to $171,500 in 2016. There was a slight decrease in 2017 to $170,000 but this was due to an increase in prices across all zip codes within Wisconsin rather than just Phillips.

The Phillips zip code has seen an increase in home prices relative to other Wisconsin zip codes. In 2012, the Phillips zip code had a price-to-income ratio of 0.8 while the statewide average was 0.7 and it had a price-to-rent ratio of 1.1 while statewide it was 1.0 (source: Zillow). By 2016 this had increased to 1.3 for Phillips and 1.5 for Wisconsin as a whole (Zillow). This suggests that there is more demand for homes within Phillips than elsewhere within Wisconsin which may be due to its location close to Madison and its relatively low cost of living compared with other areas of the state..

Despite this increase in prices over recent years there have been some concerns raised about whether or not there is too much speculation occurring within the housing market which could lead to a bubble burst (source: Forbes). However, according to CoreLogic data from January 2018 only 2% of homes sold were short sales – indicating that most buyers are actually buying their homes outright rather than using some form of leverage such as borrowing against their house (CoreLogic). It seems likely that although there may be some risks associated with high levels of house speculation there are also opportunities for those who can identify these risks and take advantage of them..