55303, Anoka, MN

The 55303 zip code of Anoka, Minnesota is home to a population of approximately 112,000 people. The median household income in the zip code is $60,000 and the median home value is $187,500. In terms of home equity, the median homeowner in the 55303 zip code has a net worth of $126,500. This means that on average, homeowners in this zip code have more than three times as much equity in their homes as those who do not live in this area.

One reason for this high level of equity may be that Anoka is a relatively affordable place to live. The cost of living index for the 55303 zip code is 100 which means that it costs about the same amount to buy groceries and utilities as it does to rent an apartment. Additionally, there are few job opportunities available outside of the area which may limit people's ability to afford to buy a home elsewhere.

Despite these factors, there are still some homeowners in the 55303 zip code who are struggling with their home equity. For example, one-third of homeowners in this area have less than 10% equity in their homes which suggests that they may need to take some action to improve their situation. One possible solution could be refinancing their mortgage or investing money into their home through a Home Equity Line Of Credit (HELOC).