67871, Scott City, KS

The home equity and home prices in the 67871 zip code of Scott City, KS are reflective of the overall market conditions in the area. Over the past year, home values have increased by 2.5%, which is slightly below the national average of 3%. However, when looking at longer term trends, it is clear that Scott City is a hot spot for homeownership and property values.

Since 2000, home values in this zip code have increased by an astounding 97%. In fact, during that time period, Scott City has outperformed every other zip code in Kansas by a wide margin. This strong performance can be attributed to a number of factors: strong job growth over the past decade, low interest rates that have helped to keep mortgage payments affordable, and limited supply of homes for sale.

Given these positive trends, it is not surprising that home equity levels are high in this area. According to Zillow’s recent Home Value Index report*, median home value in this zip code is $137k – well above the state median of $106k and significantly higher than the national median of $123k. Moreover, nearly two-thirds (64%)of households in this zip code own their homes outright – a much higher percentage than found nationwide (45%). These high levels of homeownership are likely contributing to sustained demand for housing in Scott City and driving up prices over time.

While there are some risks associated with owning a home – such as potential economic downturns or rising interest rates – overall homeownership appears to be a sound investment strategy for people looking to build wealth over time. In addition to providing stability and security during times of economic uncertainty, owning your own home can also provide significant financial benefits down the road: including reduced monthly expenses (mortgage payments vs rent), tax savings on property taxes and appreciation on your property value over time. So if you're thinking about buying or selling a house near 67871 ZIP Code in Scott City KS – don’t hesitate to contact us at Keller Williams Realty! We would be happy to help you find your dream home today!