65613, Bolivar, MO

The 65613 zip code of Bolivar, Missouri is located in the southwestern part of the state and includes a population of approximately 9,000. The median home value in this zip code is $130,000 and the median household income is $55,000. Approximately 60% of households in this zip code own their homes while the remaining 40% are renters.

Home equity is important to many people because it provides them with a financial cushion that they can use to cover unexpected expenses or to save for future goals. Home prices have been on the rise for many years in most parts of the country, but they have especially increased in recent years in areas like Bolivar where there is strong demand for housing and limited supply. This has led to significant increases in home values throughout the 65613 zip code over the past few years. In fact, according to Zillow’s current data, home values have increased by an average of 29% since 2013 which means that homeowners here are now earning an average annual return on their homes that is significantly higher than what they would earn if they were renting.

While there are some concerns that rising home prices could lead to a housing bubble that could eventually burst, so far there does not appear to be any evidence that this is happening in Bolivar. In fact, according to Zillow’s latest data, only 2 out of every 100 homes here currently belong to someone who bought their home within the last two years – which indicates that demand for housing here remains strong despite increasing prices. Additionally, although there has been an increase in foreclosures recently (due largely to economic conditions outside of anyone’s control), overall foreclosure rates remain relatively low (1 out of every 500 homes) which suggests that defaults are still relatively rare events here.

Overall, it appears safe to say that homeownership rates and home values have increased significantly throughout the 65613 zip code over the past few years due primarily to strong demand from buyers and limited availability of property available for sale. While there may be some risks associated with high levels of home equity (such as potential bubbles), at present it seems likely that these risks will not materialize into major problems down the road.