58647, New England, ND

The 58647 zip code of New England, ND is located in the southwestern corner of North Dakota and covers a total area of 9.2 square miles. The median home value in this zip code is $128,000 while the median home equity value is $92,000. The average household income in this zip code is $48,000 which indicates that there are a significant number of households that are struggling to make ends meet. In addition, there are a significant number of households that are either underwater or have negative equity in their homes.

When looking at the long-term trends for home prices and home equity values in this zip code, it appears that both values have been on a steady decline for the past several years. In fact, according to Zillow’s Home Value Index data from January 2018, the median home value in this zip code has decreased by 8% over the past year while the median home equity value has decreased by 11%. This suggests that there is an increasing amount of homeownership instability within this zip code and that more homeowners are facing difficulty paying their mortgages or having enough money left over after they have paid their monthly bills to cover any potential losses on their homes.

In addition to homeownership instability, there are also a significant number of households who are struggling with debt levels. According to Zillow’s Debt Index data from January 2018, the percentage of households who owe more than 30% of their income towards debt payments is currently at its highest level since 2007. This indicates that there is an increasing amount of indebtedness within this zip code and that many families are finding it difficult to get out from under heavy debt burdens.

Overall, it seems clear that there is an increasing amount of economic stress and financial insecurity among residents living in the 58647 zip code of New England, ND. While some may see these conditions as being indicative of an overall economic recessionary trend (which they likely are), others may find themselves feeling increasingly vulnerable as they struggle to make ends meet financially.