68955, Juniata, NE

When people think of home equity, they often think of the value of their home. However, there are other factors that can affect a home's equity as well. For example, the amount of money that a homeowner has left over after paying off their mortgage and other debts is known as their "home equity".

According to Zillow, the median home value in Juniata County was $128,200 in August 2018. This means that half of all homes in this zip code were worth more than this amount. In addition, Zillow reports that the average monthly payment on a 30-year mortgage in Juniata County was $1,521 in August 2018. Therefore, homeowners in this zip code have enough money left over after paying off their mortgages and other debts to cover an average monthly payment on a loan for almost three years!

This high level of equity is likely due to several factors. First, Juniata County is one of the most affordable counties in Nebraska. Second, many homeowners here have taken advantage of low interest rates over the past few years. Finally, many homes here were built before 2006 - when adjustable rate mortgages became more common - which means that they are not subject to higher interest rates now that those rates have increased elsewhere.

Despite these positive factors, there are some risks associated with having high levels of home equity as well. If interest rates go up or if the market for homes changes dramatically (for example if there is a housing crash), then homeowners could find themselves facing significant financial challenges. Additionally, if someone were to lose their job or suffer an unexpected financial hardship (for example if they had to file for bankruptcy), they might not be able to afford to repay their loans or sell their home at its current value.