81212, Canon City, CO

The 81212 zip code of Canon City, Colorado is a popular location to purchase a home. Home prices in this area have increased significantly in recent years, and the average home value is now over $300,000. This high value is due in part to the excellent schools and amenities available in the area.

Home equity is an important factor when purchasing a home. In order to calculate your home equity, you need to subtract your outstanding mortgage balance from your total property value. This figure gives you your "net worth" in relation to your property.

In the 81212 zip code of Canon City, net worth averaged over $200,000 per household as of 2016. This high level of equity allows homeowners to take advantage of strong market conditions and make substantial gains on their homes over time.

One important factor that affects home values is interest rates. When interest rates are low, it makes it more difficult for buyers to afford a house and also increases the amount that they will need to borrow for a down payment on a house. As of 2016, interest rates were relatively low and had not yet had an impact on home prices in the 81212 zip code of Canon City.