63834, Charleston, MO

The Charleston, Missouri 63834 zip code has a median home value of $130,000 and a median home equity of $106,000. The Charleston area has seen an increase in home values over the past five years, with prices increasing by 7.5%. The average sale price for homes in the Charleston zip code was $146,500 in 2017.

There are many factors that contribute to the increase in home values in the Charleston area. One reason is that the area is growing rapidly and there is a high demand for housing. Additionally, many people are investing in homes because they believe that prices will continue to rise. Another factor that contributes to increased home values is low interest rates. This makes it more affordable for people to borrow money to buy a home and also allows homeowners who have already invested money into their homes to keep their investment safe.

Despite these positive trends, there are some areas of concern related to the growth of home values in the Charleston area. One issue is that there may be an oversupply of homes on the market due to strong economic growth and rising wages across many industries. This could lead to decreased demand for homes and decreased prices overall. Another issue is that if interest rates rise again from their current low levels, borrowers who have taken out mortgages or other types of loans may not be able to afford their payments if they can no longer afford their monthly mortgage payments as well as other costs associated with owning a house such as property taxes and insurance premiums.