54761, Plum City, WI

The 54761 zip code of Plum City, WI has a median home value of $101,000. The home equity for this zip code is $40,000. This means that the majority of homeowners in this zip code have more equity in their homes than they need to cover their monthly mortgage payments. Additionally, the average home price in this zip code has increased by 10% over the past year. This suggests that there is strong demand for homes in this area and that prices are likely to continue to rise.

One reason why homeowners may be able to afford more equity in their homes is because interest rates are currently low. The average interest rate on a 30-year fixed-rate mortgage was 3.94% as of March 2018, which is significantly lower than the rate of 4.41% at which it was at a similar point last year. Low interest rates make it possible for homeowners to borrow more money against their homes and thus increase their equity holdings.

Another factor that could be contributing to rising home prices in the 54761 zip code is increasing demand from buyers who want to live in desirable areas with good schools and access to amenities like shopping and recreation facilities. Many people who live in this area commute into Milwaukee or Madison, which are both large cities with many attractions that people want access to while living close to work or school. As long as there is continued demand for housing here and no major economic setbacks, prices are likely to continue rising in this area over time