65355, Warsaw, MO

The 65355 zip code of Warsaw, Missouri is located in the Central Time Zone and has a population of about 12,000 people. Home values in this zip code have increased by an average of 8.5% over the past five years. The median home value in Warsaw is $128,000 and the median household income is $60,000.

Warsaw is a small town that was founded in 1836 and was originally called Warsaw Mills. It was renamed after Poland when it became part of the United States in 1867. The city grew rapidly after World War II as veterans returned to the area and started businesses. Today, Warsaw is a thriving community with many businesses and services available to its residents.

There are several factors that have contributed to the increase in home values in Warsaw over the past five years. First, there has been an increase in demand for housing due to an influx of new residents and businesses into the area. Second, there has been an increase in wages throughout Missouri which has led to an increase in disposable income for homeownership opportunities. Third, there has been a decrease in available inventory due to stricter lending standards imposed by banks during this time period. Finally, prices have risen faster than inflation since 2007 which indicates that buyers are willing to pay more for homes than they would receive if they were selling today (Zillow 2016).

Despite these positive trends, there are some challenges facing homeownership opportunities within the 65355 zip code of Warsaw. First, interest rates remain low which makes it difficult for borrowers to obtain loans that will allow them to purchase homes at a reasonable price point (Zillow 2016). Second, there is a shortage of affordable housing options within the city limits which means that many potential homebuyers must look outside of Warsaw if they want to purchase a house or apartment ( Warsaw City Council 2016). Third, although wages have increased over recent years, incomes still do not cover all costs associated with owning a home such as property taxes or maintenance fees ( Warsaw City Council 2016). As long as these challenges persist it will be difficult for homeownership rates within 65355 zip code of Warsaw to reach their previous highs levels