64480, Rea, MO

The 64480 zip code of Rea, MO has a median home value of $128,000 and a median home equity value of $101,000. These values are significantly lower than the Missouri median home value of $177,500 and the national median home equity value of $142,600. This indicates that there is a greater percentage of homes in this zip code that are worth less than their original purchase price.

There are several factors that may contribute to the low home values in the 64480 zip code. One potential factor is the fact that this area has been hit hard by the recession. Many people who were able to buy homes before the recession have since lost their jobs, and as a result have been unable to refinance or sell their homes at market prices. Additionally, many people who live in this zip code may not be able to afford to buy a house even if they could afford it; due to high levels of unemployment and poverty in this area, there is an abundance of rental housing available which drives up prices for homes purchased by individuals.

Despite these factors, there are some homeowners in the 64480 zip code who have managed to keep their homes despite poor market conditions. These homeowners may be able to do so because they either own their homes free and clear or they have been able to obtain mortgages with low interest rates which allow them to pay off their mortgages over time rather than selling their homes at market prices. In any case, it is likely that most homeowners in this zip code will not see significant increases in their home values until conditions improve more broadly throughout Missouri and nationwide.