74953, Poteau, OK

The Poteau, OK 74953 zip code has a population of just over 10,000 people and is located in the northeast corner of the state. The median household income in this area is just over $50,000, which is considerably lower than the statewide median income of $61,372. Home prices in this area have been on a steady decline for the past several years and are now significantly below their peak values. In fact, according to Zillow’s latest report on home prices in Oklahoma City metropolitan areas, the Poteau zip code ranks as the worst performing zip code in Oklahoma when it comes to home values.

There are several factors that may be contributing to this trend. First, Poteau is located in an economically depressed region of Oklahoma and has seen a significant decline in both its population and economy over the past few years. Second, there has been an increase in competition for homes available for sale within this zip code due to increased demand from both locals and out-of-state buyers. Finally, recent regulatory changes made by the Federal Reserve may have caused some investors to pull back on their purchases of homes within certain markets across the country.

Despite these challenges, there are still some homeowners who are benefiting from current market conditions. For example, those who were able to purchase their homes prior to 2008 or 2009 may be able to sell them at a higher price than they would have if they had purchased them today due to increased demand from potential buyers looking for affordable housing options. Additionally, those who have been able to keep up with their mortgage payments and maintain good credit ratings may also be able to sell their home at a higher price than they would if they had defaulted on their loan or had poor credit history.