58704, Minot Afb, ND

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. Home prices are the price at which homes are sold in an area. Both home equity and home prices can change over time, depending on many factors including interest rates, inflation, and market demand.

In Minot Afb, ND, both home equity and home prices have been increasing over the past several years. As of May 2019, the median home value in this zip code was $154,000. This is up from $130,000 as of May 2018. The average monthly payment on a mortgage in this zip code was $1,521 in May 2019. This is down from $1,711 as of May 2018 but still higher than the national average of $1,233.

There are many reasons why home values have increased in Minot Afb over the past few years. One reason is that there has been an increase in demand for housing in this area due to job growth and population growth. Another reason is that interest rates have remained low throughout this time period which has helped to boost homeowners' equity levels. Finally, Minot Afb has seen relatively low levels of inflation over the past few years which has kept overall costs down for buyers and sellers alike.