63869, New Madrid, MO

The 63869 zip code of New Madrid, Missouri is located in the southeastern corner of the state and includes a population of just over 10,000 people. The median home value in this zip code is $137,500 and the median household income is just over $60,000.

Home equity has been on the rise in recent years across most parts of the country, but it has been particularly strong in this zip code. The average home value here has increased by almost 25% since 2007, which is much faster than the national average increase of just under 16%. This strong performance is likely due to a number of factors including low interest rates and increasing demand for housing stock.

Despite these positive trends, there are some risks associated with high home equity values. If interest rates rise or housing prices decline significantly, homeowners could find themselves facing significant financial challenges. Additionally, if someone needs to sell their home quickly because they are moving or retiring, they may be forced to accept a lower price than they would have otherwise.