66106, Kansas City, KS

The 66106 zip code of Kansas City, KS has a median home value of $135,000. The home equity in this zip code is $37,000. This means that the homeowners in this zip code have a net worth of $82,000 and the renters have a net worth of -$5,000.

The average home value in Kansas City is $161,500 and the average home equity is $79,700. This means that most homeowners in Kansas City have more than twice as much equity in their homes as renters do.

There are several factors that contribute to the high home equity values in Kansas City. First, the city has a low rate of foreclosure activity which keeps homes from becoming available for sale at below their true market value. Second, there is a strong demand for housing due to its high job and population growth rates. Finally, many homeowners here are able to leverage their homes by taking out mortgages with low interest rates.

Despite these positive factors, there are some risks associated with having high levels of home equity. If interest rates rise or the market for housing crashes completely, homeowners could find themselves struggling to pay off their loans or lose all of their money invested in their homes. Additionally, if someone were to lose their job or experience other financial setbacks and cannot afford to make payments on their mortgage or rent anymore, they would likely be homeless or live in poverty due to lack of access to affordable housing options