56654, Loman, MN

The 56654 zip code of Loman, MN has a median home value of $161,000 and a median home equity value of $121,000. These values are slightly higher than the Minnesota statewide median home value of $146,500 and the national median home equity value of $130,000. The 56654 zip code is also within the top 10% of all zip codes in Minnesota for both home values and home equity values.

One reason that the 56654 zip code has such high home values and home equity values is likely due to its strong economy. The Loman area has seen strong job growth over the past few years, which has led to increased demand for housing and increased prices for homes. Additionally, Loman is located in a desirable area with plenty of amenities nearby (like shopping malls and restaurants). This combination likely contributes to the high levels of homeownership andhome equity in this zip code.

Despite these positive factors, there are some risks associated with owning a home in the 56654 zip code. For example, if interest rates rise significantly from their current levels (which is possible), then homeowners could experience significant increases in their monthly mortgage payments. Additionally, if there is a major downturn in the economy (like there was during the Great Recession), then prices may decrease significantly across all sectors of housing market including homes in the 56654 zip code.