82225, Lusk, WY

The 82225 zip code of Lusk, Wyoming is located in the Powder River Basin and has a population of just over 1,000 people. Home prices in this zip code have increased significantly over the past few years, reaching an average of $269,000 as of September 2017. The main drivers of this increase are strong demand from buyers and limited supply of homes for sale.

Home equity is a key factor in home prices. In Lusk, home equity accounts for around 38% of the average home value. This high level of equity is likely due to the low number of homes available for sale and the strong demand from buyers. Additionally, Lusk residents have access to a wide range of financial products that can help them get ahead in their housing market search. These products include low-interest loans, HELOCs (home equity lines of credit), and reverse mortgages.

Despite these positive factors, there are some risks associated with buying a home in Lusk. One risk is that interest rates could rise over time and make it more expensive to borrow money against your home equity. Another risk is that you may not be able to sell your home if you want to move or if market conditions change negatively. Overall, though, the benefits outweigh these risks in most cases so it’s important to do your research before making any decisions about buying or selling a home in Lusk