69356, Minatare, NE

The 69356 zip code of Minatare, NE is located in the northeast corner of Nebraska and covers a total area of just over 9 square miles. The median home value in this zip code is $122,000, which is about average for the state of Nebraska. However, when looking at home equity values within this zip code, it is clear that there are a number of homeowners who have a significant amount of equity in their homes. For example, according to Zillow’s Home Value Index data, the average home equity value in this zip code is $142,000. This means that nearly half (47%) of all homes in this zip code have more than $100,000 worth of equity. Additionally, when looking at the percentage of homes with zero or negative equity (meaning that their home value is less than what they owe on their mortgage), only 4% of homes in this zip code fall into this category. This indicates that most homeowners in this zip code are able to maintain some level of ownership and control over their homes even if they may not be able to afford to pay off their entire mortgage right now.

One reason why homeowners in the 69356 zip code have such a high level of equity in their homes may be due to the low rate environment that we currently find ourselves in. According to Zillow’s Mortgage Calculator data, the average interest rate on mortgages within this zipcode is just 3%. This means that many homeowners here are able to get mortgages with rates that are much lower than what they would be paying if rates were higher. Additionally, because there are so few foreclosures and short sales happening within this area right now (due largely to the low interest rate environment), it seems likely that most homeowners here will be able to keep their homes for quite some time even if they can't pay off all their debt immediately.

Overall then, it appears as though most homeowners within the 69356 zip code have a good amount of home equity - which could help them weather any potential financial challenges down the road.