83616, Eagle, ID

The 83616 zip code of Eagle, ID is located in the Boise metropolitan area. The median home value in this zip code is $236,000. The average home value in this zip code has increased by 9% over the past five years. In addition, the percentage of homes that are owner-occupied has increased from 66% to 71%. This indicates that there is an increasing demand for housing in this area.

Home equity is a key factor in determining home prices. Home equity refers to the difference between the market value of a home and what a homeowner owes on their mortgage or other loan obligations. Over time, homeowners can use their home equity to pay down their debt or invest in other assets. Home prices are also affected by factors such as interest rates, supply and demand, and local economic conditions.

Overall, it appears that there is an increasing demand for housing in the 83616 zip code of Eagle, ID and consequently, there has been an increase in home values over the past five years. Additionally, it appears that more homeowners are using their home equity to pay down debt or invest elsewhere which has also contributed to rising prices.