83201, Pocatello, ID

Home Equity and Home Prices in the 83201 Zip Code of Pocatello, Idaho

The home equity and home prices in the 83201 zip code of Pocatello, Idaho are very high. The median home value in this zip code is $236,000, which is more than double the statewide median home value of $103,500. The average home value in this zip code is even higher at $248,000. This high level of home equity reflects the strong economy and stable housing market in Pocatello.

One reason for the high level of home equity in this zip code is that there are a lot of homes here that were built between 1990 and 1999. These homes typically have a lower price tag than newer homes because they are older and may not be as well maintained. However, over time these older homes tend to appreciate more in value due to their stability and low crime rates. Additionally, many people who live here own their homes outright rather than renting them so they have more control over their property's worth.

Despite the high level of home equity in this zip code, there has been some speculation about whether or not prices will continue to rise rapidly due to increasing interest rates. If interest rates increase significantly then it could make it harder for people to afford to buy or upgrade their homes since payments on mortgages would become more expensive. However, so far there does not seem to be any indication that interest rates will increase significantly any time soon which means that prices should continue to rise moderately in the near future for homeowners here in Pocatello.