55124, Saint Paul, MN

Home equity is the value of a home minus all outstanding mortgages and other liens. Home prices are the price at which homes are sold in a given area. The 55124 zip code has seen an increase in home equity and home prices over the past few years.

According to Zillow, the median home value in Saint Paul was $196,200 as of September 2017. This is an increase from $183,600 as of September 2016. Additionally, the number of homes sold within the 55124 zip code has also increased over this time period. As of September 2017, there were 2,814 homes sold within this zip code compared to 2,527 homes sold as of September 2016.

One reason for this increase in home values may be due to low interest rates and increasing demand for housing within Saint Paul. Additionally, Saint Paul has been designated as a “Bargain Hunter” city by Trulia which may have contributed to increased demand for housing in this area.

Despite these increases in home values and equity, it is important to keep in mind that not all homeowners within the 55124 zip code have seen an increase in their property values or net worth due to rising prices alone. Some homeowners may have had their property values rise significantly but still owe more on their mortgage than their home is worth due to interest rates or other factors outside of their control (e.g., poor credit). In addition, not all areas within Saint Paul have seen similar increases in home values and equity over time - some areas have seen decreases while others have remained relatively stable (e.g., downtown Saint Paul).

Overall, it appears that increasing demand for housing within Saint Paul along with low interest rates has led to an increase in both home equity and home prices within this particular area over recent years