57231, De Smet, SD

The 57231 zip code of De Smet, SD has a median home value of $101,000. The home equity in this zip code is $27,000. This means that the majority of homes in this zip code are worth less than their home equity.

There are a few reasons why the homes in this zip code are worth less than their home equity. One reason is that the homes in this area were built before 2007, which was when the housing market started to decline. Another reason is that many of these homes were bought as foreclosure properties and have since been repurchased at a lower price.

Despite these factors, there are still a few homeowners who own their homes outright or who have enough equity to cover any potential repairs or upgrades that they may want to make to their property. Overall, it seems that the homeownership rate in this zip code is low and that most people are renters instead of owners.