57501, Pierre, SD

Pierre, SD is located in the southwestern part of South Dakota and has a population of just over 10,000 people. The 57501 zip code covers a total area of just under 10 square miles and has a median home value of $128,000.

There has been an increase in home equity values in the 57501 zip code over the past few years. In 2013, the median home value was $116,000 and by 2016 that had increased to $128,000. This trend is likely to continue as Pierre continues to grow and become more populated.

The main drivers of home equity values are typically interest rates and inflation. When interest rates are low, it makes it more affordable for people to borrow money to buy a house and then pay back that loan with interest over time. Over time, this can add up to a large sum of money – especially if you have been able to keep your house free from any major repairs or updates.

Inflation also plays a role in increasing home equity values – especially if prices have been rising steadily for several years without any significant changes in the economy or market conditions. As long as there is no major downturn or recession on the horizon, homeowners can generally expect their homes’ values to continue increasing over time.