89408, Fernley, NV

Home equity is the difference between the market value of a home and what a homeowner owes on that home. The market value of a home can be determined by looking at recent sales in the area, as well as using an appraisal. Homeowners typically owe more on their homes than their homes are worth, due to interest and other fees associated with owning a home.

According to Zillow, the median home value in Fernley was $224,900 in January 2018. This means that homeowners in this zip code had equity (the difference between what they owed on their homes and what their homes were worth) of $123,300. This number has been increasing over time; as of January 2018, it was up from $119,800 just two years earlier.

While there is no one answer to whether or not prices will continue to rise in Fernley over time, there are several factors that could contribute to an increase:

-The local economy has been doing well recently; this could lead to more people buying or selling homes, which would increase demand for housing and drive up prices

-There is limited inventory available for purchase in Fernley; if more people want to buy or sell homes than there are available options, prices will go up

-Interest rates have remained relatively low throughout much of 2018 (currently at 3%), which has helped homeowners who are carrying debt on their homes stay afloat

- Fernley is located within close proximity to Las Vegas; as more people move into the city and demand for housing increases, prices will likely go up even further in Fernley