67439, Ellsworth, KS

The 67439 zip code of Ellsworth, KS has a median home value of $134,000 and a median home equity value of $128,000. These values are above the national median home value of $123,500 and the national median home equity value of $119,500. The Ellsworth area has seen an increase in both home values and home equity values over the past five years. In 2013, the median home value was $122,000 and the median home equity value was $116,000. In 2016, the median home value was $134,000 and the median home equity value was $128,000. This indicates that there has been an increase in demand for homes in this area and that people are able to invest more money into their homes than they were five years ago.

One factor that may have contributed to this increase inhome values is that there is a low unemployment rate in Ellsworth compared to other areas of Kansas. The unemployment rate in Ellsworth is 3% which is lower than the Kansas state unemployment rate of 4%. This low unemployment rate may be attracting businesses and individuals who are looking for jobs to relocate to Ellsworth or who are already living in Ellsworth to buy homes because they know that they will be able to find a job here. Additionally, there is a high percentage of adults with at least some college education which may also contribute to increased demand for homes in this area.

Another factor that may be contributingto increased demand for homesin the 67439 zip codeof Ellsworthisthelowinterest rates available on mortgages today comparedtofiveyears ago. In 2013 interest rates were at 5%, while today interest rates are at 3%. This meansthatmorepeopleareabletobuyhomesincityzipswithlowerdownpaymentrequirementsthantheywerefiveyearsagoandthiscanaduballevesthehomeequityvalueofthemindsofmanypeopleinthisarea.(HomesandRealEstateData)