66227, Lenexa, KS

Lenexa, KS is located in Johnson County and has a population of around 115,000 people. The median household income in the 66227 zip code is around $92,000 which is higher than the national median household income of $59,445. The home equity and home prices in Lenexa are both high compared to other areas of the country.

The average home value in Lenexa is around $309,000 which is more than double the national average home value of $153,700. The home equity in Lenexa also ranks as one of the highest in the country with an average equity value of $191,200. This high level of equity indicates that homeowners in Lenexa have a lot of money saved up which they can use to pay off debts or invest for future growth.

One reason why homeownership rates are so high in Lenexa is because there are not many available properties for sale. In fact, only 2% of homes for sale are listed as being available at any given time which is much lower than the nationwide average availability rate of 5%. This shortage of properties has driven up prices and made it difficult for potential buyers who do not live close by to find a suitable property.

Despite the high levels of equity and home values, there are still some risks associated with owning a property in Lenexa. For example, if interest rates increase then homeowners may face increased payments on their mortgage or loan balances. Additionally, if there is a sudden decrease in demand for homes then prices could drop significantly which would harm homeowners' portfolios. However overall these risks seem relatively low when compared to other parts of the country where similar investments can lead to much greater losses.