58530, Center, ND

Home Equity and Home Prices in the 58530 Zip Code of Center, ND

The home equity and home prices in the 58530 zip code of Center, ND are very high. The median home value in this zip code is $269,900 which is more than triple the national median home value of $100,000. Additionally, the percentage of homes that are worth more than their original purchase price is also very high at 97%. This indicates that there are a lot of homeowners who have a lot of equity in their homes.

One reason for this high level of equity may be due to the low unemployment rate in this area. The unemployment rate in Center was 2.5% as of May 2018 which is much lower than the national average unemployment rate of 3%. Additionally, there are a lot of jobs available here which means that people can afford to buy homes and keep them for long periods of time without fear that they will lose their jobs.

Another reason for the high level of equity may be due to the low interest rates currently being offered on mortgages. The interest rates on mortgages were below 4% as of May 2018 which is much lower than the interest rates available just a few years ago when many people were buying homes. Low interest rates make it easier for people to afford to buy homes and also keep their mortgage payments low over time.

Overall, it appears that homeownership and home equity are very strong in the 58530 zip code of Center, ND. This indicates that there is a lotof stability and security associated with owning a home here compared to many other areas around the country where housing values have been declining or where homeownership rates are lower overall