57438, Faulkton, SD

Home Equity and Home Prices in Faulkton, SD

The home equity and home prices in the 57438 zip code of Faulkton, SD are very high. The median home value in this zip code is $269,000, which is more than triple the national median home value of $102,500. The average home equity in this zip code is also very high at $183,000. This means that most homeowners in this zip code have a lot of equity in their homes.

One reason why the home values and home equity are so high in this zip code is because there are a lot of wealthy people living here. The percentage of households earning over $200,000 per year is higher than the national average of 23%. Additionally, there are a lot of affluent families who have moved into this area recently. This has caused the demand for homes to increase significantly, which has driven up the prices.

Despite these high prices, there are still some opportunities available to buyers who want to purchase a house in this area. For example, many homeowners have taken out mortgages that are worth more than their homes worth. This means that if you can find a good deal on a house and have enough money saved up, you may be able to buy one even if the price is higher than you would like it to be.