56150, Lakefield, MN

The home equity and home prices in the 56150 zip code of Lakefield, MN are quite high. According to Zillow, the median home value in this zip code is $269,900. This is a significant increase from the median home value of $156,200 that was reported in 2007. In addition, the percentage of homes that are worth more than their original purchase price has also increased significantly over the past few years. As of 2016, approximately 54% of homes in this zip code are worth more than their original purchase price. This is much higher than the national average of 33%.

One reason for this high level of home equity and home prices in Lakefield may be due to its strong economy. The unemployment rate in this zip code is only 2%, which is much lower than the national average unemployment rate of 4%. Additionally, there are a number of businesses located in this area that have been successful over time and may be contributing to the high level of home equity and home prices. For example, Target Corporation (NYSE: TGT) has been headquartered in Lakefield since 1994 and has contributed to the local economy by creating jobs and generating revenue. Other businesses that may have played a role include Kohl's Department Store (now Macy's), JCPenney (NYSE: JCP), Sears Holdings Corporation (NASDAQ: SHLD), and General Mills Incorporated (GMO).

Despite these positive factors, some people may not be able to afford these high levels of home equity orhome prices due to limited income or credit history. In addition, many people who live in this area may be investing their money insteadof buying a house outright due to low interest rates available on mortgages today. As long as people understand these factors before purchasing a house or investingin property here, they should be able to enjoythe benefits associated with livingin oneof Lakefield's most desirable ZIP codes.