87730, Mills, NM

Home Equity and Home Prices in the 87730 Zip Code of Mills, NM

The home equity and home prices in the 87730 zip code of Mills, NM are very high. The median home value in this zip code is $309,000, which is more than triple the national median home value of $157,500. Additionally, the percentage of homes that are owner-occupied in this zip code is above the national average of 63%. This indicates that many people in this zip code are able to afford to buy a home even if they don't have a lot of money saved up.

One reason why the home equity and home prices in this zip code are so high is because there are a lot of wealthy people living here. The percentage of households earning over $200,000 per year is above the national average of 20%. Additionally, there are a lot of jobs available here that pay well enough to allow people to buy homes. For example, there are several large companies located in this area such as Intel and Sandia National Laboratories.

Despite all these factors contributing to high home values and homeowner rates, it's important to keep in mind that not everyone living in this zip code can afford to buy a house. There is a significant number (almost one third)of households living here who earn less than $50,000 per year. This means that even if you have good credit and can afford a mortgage on a house worth $309,000, you may not be able to actually purchase it unless you have some extra money saved up.