83540, Lapwai, ID

The home equity and home prices in the 83540 zip code of Lapwai, ID are reflective of the overall market conditions in the area. Over the past year, there has been a modest increase in both home equity and home prices. This is likely due to an influx of new residents and businesses into the area, as well as an increase in demand for housing.

As of September 2017, the median home value in the 83540 zip code was $128,000. This is significantly higher than the statewide median home value of $174,500. However, despite this increase, homeownership rates remain relatively low in Lapwai – only 54% of households own their homes outright compared to 67% statewide. This may be due to a number of factors including high housing costs and a lack of available creditworthy borrowers.

Overall, homeownership rates are low but have increased modestly over recent years due to increasing demand for housing and limited availability of creditworthy borrowers. Home equity levels are also high relative to statewide averages, indicating that many residents have substantial equity in their homes.