67869, Plains, KS

The home equity and home prices in the 67869 zip code of Plains, KS are reflective of the overall market conditions in this area. The median home value in this zip code is $135,000, which is lower than the statewide median home value of $177,500. However, the percentage of homes that are worth more than their original purchase price is higher in this zip code than statewide. In fact, approximately one-third (32%) of homes in this zip code are worth more than their original purchase price. This compares to a statewide percentage of just under 20%.

There are a number of factors that may contribute to the higher percentage of homes that are worth more than their original purchase price in the 67869 zip code. One potential explanation is that there is a high concentration of affluent residents in this area. As such, it may be easier for homeowners to sell their homes for a higher value than it would be for someone living elsewhere in Kansas. Additionally, there is a greater demand for housing stock among affluent households relative to other income groups. This could lead to increased prices and increased demand for properties within the 67869 zip code.

Despite these factors, not all homeowners within the 67869 zip code have been able to benefit from these elevated prices. In fact, approximately one-quarter (25%)of homeowners within this zipcode have seen their home values decline since they purchased it, which compares unfavorably with statewide percentages ranging from just under 10% to 15%. This suggests that there may be some areas within Plains where housing values have become inflated beyond what can reasonably be justified by economic fundamentals alone.