65340, Marshall, MO

The Marshall, MO 65340 zip code has a population of around 25,000 people and is located in the southeast region of the state. The median household income in this zip code is $64,000 which is above the Missouri median household income of $54,000. The home equity and home prices in this zip code are both relatively high when compared to other areas of Missouri.

According to Zillow’s Home Value Index for ZIP Codes within 100 miles of Marshall, MO 65340 (as of 4/1/2018), the median home value in this area is $187,500 which is significantly higher than the Missouri median home value of $146,700. Additionally, Zillow’s Home Value Index shows that Marshall’s home values have increased by 8% over the past year which is much faster than the statewide average increase of 3%. This indicates that there are a lot of potential buyers and sellers in this area who are interested in purchasing or selling homes.

One reason why Marshall’s home values are so high is because there are a lot of affluent residents living in this area. According to RENTCafé’s 2018 Renter Profile Report for ZIP Codes within 100 miles of Marshall (as as 4/1/2018), approximately 38%of households living in this zip code earn over $100K annually. Additionally, RENTCafé reports that approximately 58%of households living in this zip code have at least one person who works full-time. These high incomes combined with low unemployment rates make it very difficult for people looking to purchase homes in this area – especially if they do not have a large down payment or sufficient credit score.

Despite these challenges, there are still some homeowners who have been able to purchase homes in Marshall over the past year or so. For example, according to Zillow’s Home Value Index for ZIP Codes within 100 miles of Marshall (as as 4/1/2018), approximately 9%of homes sold within this radius were purchased by first-time buyers which was above the Missouri statewide average percentage of 7%. Additionally, approximately 36%of homes sold within this radius were purchased by people who lived outside their current county at the time they bought their home – which was also above the statewide average percentage of 30%. These statistics indicate that there is still room for growth for homeownership opportunities within this area – even though it may be more difficult than before due to high housing prices and limited inventory availability