63662, Patton, MO

The Patton, MO 63662 zip code has a median home value of $119,000 and a median home equity of $86,000. This means that the majority of homes in this zip code are worth more than their original purchase price, but there are also a significant number of homes that are worth less than their original purchase price. The average home value in this zip code has increased by 7% since 2007, which is much faster than the national average increase of 3%. However, the Patton 63662 zip code still has a long way to go before it reaches its pre-recession peak of $128,000.

One reason that the Patton 63662 zip code is experiencing such rapid growth in home values is because there is an abundance of available housing stock. There are currently 1,898 homes for sale in this zip code, which is more than double the number of homes that were available just five years ago. In addition, many homeowners who have been able to keep their homes during the recent recession have been able to sell them at significantly higher prices than they purchased them for. As a result, most homeowners in this zip code have seen their home equity grow over time.

However, not everyone in the Patton 63662 zip code has been able to benefit from rising home values. There are a significant number of homeowners who have lost money on their homes since 2007 due to declining market conditions or unexpected expenses such as repairs or upgrades. Additionally, there is a large population of renters who do not own any property whatsoever and therefore do not benefit from rising home values either way.