82836, Dayton, WY

Home Equity and Home Prices in the 82836 Zip Code of Dayton, WY

The zip code of 82836 located in Dayton, Wyoming has a median home value of $143,000. This is higher than the Wyoming median home value of $129,000. The zip code also has a high percentage of homeowners with equity in their homes. In fact, over 60% of households in the zip code have equity in their homes. This high level of equity is likely due to the low unemployment rate and strong economy in the area.

Another factor that may contribute to the high level of equity in homes in this zip code is the low interest rates currently being offered on mortgages. The average interest rate on a 30-year mortgage for residents in this zip code is 3.68%. This is much lower than the national average interest rate of 4.41%. Therefore, it may be easier for people to afford a home with equity and still have enough money left over to pay off their mortgage debt.

Despite these positive factors, there are some risks associated with having too much equity in your home. If you lose your job or experience other financial setbacks, you may not be able to afford to repay your mortgage debt at current rates. Additionally, if prices decline significantly below what you paid for your home, you could end up losing money on your investment. However, by carefully monitoring both your housing costs and market conditions, you can minimize these risks and still enjoy significant benefits from owning a home with equity