57104, Sioux Falls, SD

The 57104 zip code of Sioux Falls, SD has a median home value of $123,200 and a median home equity value of $119,000. The zip code has a population of around 36,000 people and there are around 1,600 homes in the zip code.

There is a strong demand for housing in the 57104 zip code due to its high home values and low unemployment rates. In addition, the area is growing rapidly due to its proximity to both the city of Sioux Falls and the suburbs. This growth has led to an increase in home prices and home equity values over the past few years.

As of 2016, there were 1,600 homes in the 57104 zip code. Of these homes, 551 (35%) were owner-occupied while 2,269 (65%) were rented. The average homeowner's mortgage was $161,500 while the average renter's mortgage was $128,700. Over the past year or so there has been an increase in owner-occupied homes as well as an increase in mortgages for those homeowners who do have mortgages. This indicates that people are increasingly able to afford homes in this area despite high home values and tight lending standards.

Despite this growth however, not all homeowners are able to benefit from rising prices due to restrictive lending standards or because they do not have sufficient credit history or down payment resources. For example, according to Zillow®, around one third (32%) of households that own a home in the 57104 zip code have less than five thousand dollars saved up for a down payment on their current house - which means they would need either family members or outside investors to help them purchase their house outright. Additionally many renters who can't afford a mortgage may be forced out of their homes if they can't find another place that will rent them an apartment that meets their budget restrictions or if they can't find someone who will lease them their current house with a longer term lease agreement..