65263, Madison, MO

The 65263 zip code of Madison, MO is located in the northwest corner of the state and has a population of just over 100,000. The median home value in this zip code is $211,900 and the average home equity loan amount is $141,000. The percentage of homes with a mortgage in this zip code is lower than the statewide average (59%) and the percentage of homes with a HELOC is also lower than the statewide average (30%).

There are several factors that may contribute to these low mortgage rates and high home equity loan amounts in this zip code. First, Madison has a relatively low unemployment rate (3.5%) which may lead some homeowners to believe that they can afford to borrow more money against their homes than they might be able to if their unemployment rate were higher. Second, Madison has a high level of education attainment (79% have at least a bachelor's degree) which may lead some homeowners to believe that they will be able to sell their homes for more money than they would if their neighborhood had a lower level of education attainment. Finally, Madison's economy is relatively stable compared to other parts of Missouri which may lead some homeowners to believe that prices for housing will not decline as quickly as they would if there were more economic volatility in the area.