83263, Preston, ID

The Preston, ID 83263 zip code has a median home value of $122,000 and a median home equity value of $101,000. These values are significantly lower than the statewide median home value of $236,500 and statewide median home equity value of $146,700. The Preston zip code also has a significantly lower homeownership rate than the statewide homeownership rate of 68.5%.

One potential explanation for these low home values in the Preston zip code may be the high levels of unemployment and poverty in this area. According to the 2016 American Community Survey data, the Preston zip code has an unemployment rate of 10.1% and a poverty rate of 25%. These high levels of unemployment and poverty may lead to fewer people able to afford to buy or own homes in this area.

Another potential explanation for the low home values in the Preston zip code may be that there is not enough available land for homes in this area. The Preston zip code is located in an agricultural region with limited available land for homes. This could lead to higher prices for homes due to limited supply and higher demand from buyers.