59802, Missoula, MT

Missoula, MT is located in the Western United States and has a population of about 120,000. The 59802 zip code has a median home value of $183,200 and a median household income of $60,000. Approximately one-third of the homes in this zip code are owned by individuals and two-thirds are owned by families. Home equity is important to many Missoulians because it provides them with an opportunity to invest their money and grow their wealth over time.

The average home value in the 59802 zip code increased by 8% from 2007 to 2016. This growth was faster than the national average (5%) during that same period. The increase in home values is likely due to several factors including low interest rates, increasing demand for housing stock, and strong economic conditions. In addition, Missoula has been designated as a "strong" market area by Zillow which means that there is high demand for housing here.

Despite the positive trend in home values, there have been some challenges faced by homeowners in the 59802 zip code over the past few years. For example, prices have risen more quickly than wages or incomes so some families have had difficulty making enough money to cover monthly mortgage payments on their homes. Additionally, there has been an increase in foreclosure activity in this area which could lead to even more price declines if it continues into the future. However, overall homeownership rates are still high which suggests that most people who live in this zip code are able to maintain their homes despite these challenges.