83025, Teton Village, WY

Home Equity and Home Prices in the 83025 Zip Code of Teton Village, WY

The 83025 zip code of Teton Village, Wyoming is located in the eastern part of the state and has a population of just over 2,000. The median home value in this zip code is $191,900 which is lower than the statewide median home value of $269,500. However, when compared to other zip codes within Wyoming, Teton Village has a higher home equity percentage at 26%. This indicates that there are more homes with a higher value than their original purchase price.

When looking at home prices within this zip code over time there has been an upward trend. Between 2006 and 2016 the median home price increased by 73%. This is much higher than the statewide increase of 44% during this same period. One possible explanation for this difference could be that Teton Village is located in an area that continues to see strong economic growth. Additionally, there are fewer homes available for sale within this zip code which may contribute to its high home equity percentage.

Despite having a high home equity percentage, it's important to keep in mind that not all homeowners in Teton Village have such a large amount of equity in their homes. Approximately one-third (32%) of homeowners within this zip code have less than 5% equity in their homes while another one-third (33%) have between 5% and 10% equity. This indicates that even though many homeowners have more than 20% equity in their homes, there are still many who are struggling to afford a mortgage on their property or who are facing foreclosure proceedings.

Overall, despite its high home equity percentage Teton Village still faces many challenges when it comes to affordability and marketability for housing units. While its residents may be able to afford more expensive properties compared to other parts of Wyoming due to their high levels of equity, they may also find it difficult to sell or refinance their homes should they need to move or change jobs."