73008, Bethany, OK

Bethany, OK is located in the 73008 zip code. According to the 2016 American Community Survey, the median household income in this zip code is $51,176. The median home value is $128,000. Home equity and home prices have increased significantly over the past few years in Bethany.

Home equity and home prices are important indicators of a community's economic health. When families can afford to buy or sell homes and access funds to maintain or improve their homes, it indicates that they are doing well economically. In addition, when housing values increase faster than incomes, it can create a bubble that may eventually burst. However, when housing values increase faster than incomes and there is little evidence of an overheating market, it can indicate that a community is experiencing an asset-price bubble.

According to Zillow's analysis of data from Trulia, home equity and home prices have increased significantly in Bethany since 2012:

The average monthly gain was 2% from January 2012 through December 2016 (Zillow).

In 2015 alone (the most recent year for which data is available), home equity and home prices increased by 10%.

In 2016 alone (the most recent year for which data is available), home equity and home prices increased by 12%.

This rapid increase in housing values has led some residents to believe that Bethany may be experiencing an asset-price bubble.

However, there are several factors that should be considered before making this conclusion: 1) The average price of a single family house has not yet reached its peak; 2) There has been little change in mortgage rates over the past few years; 3) There has been strong demand for homes from both buyers and sellers; 4) The rate of inflation has been relatively low over the past few years; 5) There have been no major changes in local economic conditions that could explain these increases in housing values; 6) The percentage of households who own their homes outright remains high compared to other communities across the country (Zillow).

While there are many factors that should be considered before concluding that Bethany may be experiencing an asset-price bubble, Zillow's analysis suggests that there may not be enough evidence yet to make this conclusion with certainty.