68864, Palmer, NE

Palmer, NE is located in the 68864 zip code. According to the 2010 census, Palmer has a population of 2,868. The median household income was $52,898 and the median family income was $57,711. In 2008, home prices in Palmer were estimated at $128,000. Home equity in Palmer averaged $101,000 from 2007-2010.

The average home value in Palmer increased by 8% from 2007-2010 and by 10% from 2005-2007. The average mortgage rate for homes in Palmer during these years was 5%. This indicates that homeownership rates are high and that there is a demand for housing in this area. It is also indicative of the stability of the local economy.

Home values have been on an upward trend since 2005 and are projected to continue increasing through 2020 according to Zillow's Home Value Forecast report . This trend is likely due to several factors including low interest rates and strong job growth in the area.

Home equity is important because it provides homeowners with a cushion against economic fluctuations and allows them to take advantage of opportunities such as refinancing or purchasing a new home. Home equity can also be used as collateral for loans or as part of retirement savings plans .

The availability of affordable mortgages has been critical to the growth of home values over time. In Palmer , mortgage rates averaged 5% between 2007-2010 which made it possible for many people to purchase homes even if they did not have ample savings . Low interest rates are also contributing to increased home values because they make it more affordable for people to borrow money against their homes .

While there are many factors contributing to the increase in home values throughout Nebraska , one important factor is undoubtedly population growth . As more people move into an area , demand for housing increases which drives up prices .