66015, Colony, KS

The 66015 zip code of Colony, KS has a population of around 9,000 people and an average home value of $130,000. The median home value in this zip code is $116,500. Home equity in the 66015 zip code is relatively low compared to other areas of the country. The average home equity in the United States is around $141,200. This means that most homes in the 66015 zip code have less than half of their original value remaining.

There are a few reasons why home equity in the 66015 zip code is low. One reason is that Colony is a suburb of Kansas City and there are many more expensive homes available than cheaper homes. Another reason is that many people have taken out mortgages to buy their homes and they may not be able to afford to pay off their mortgages if their home values decline significantly. Finally, many people who live in the 66015 zip code have taken out HELOCs (home equity lines of credit) which allow them to borrow money against their home equity without having to sell their house or take on any additional debt. If these loans were to become delinquent or if interest rates increased significantly, homeowners could find themselves with significant amounts of debt and little or no equity in their homes