97026, Gervais, OR

When people think of home equity, they often think of the value of their home minus any outstanding mortgages or other debts. But what about the value of a home in terms of its current market price?

According to Zillow, the median home value in 97026 is $269,900. This means that half of all homes in this zip code are worth more than $269,900. This is considerably higher than the national median home value of $217,500.

One reason for this high median home value may be that Gervais is a relatively affluent area. The percentage of households earning over $100,000 is above average for Oregon (27% vs 21%), and it’s even higher than the national average (33%). Additionally, Gervais has seen strong job growth over the past few years – adding more affluent residents – which could also contribute to its high median home values.

However, not everyone in 97026 can afford a pricey house. The percentage of households earning less than $30,000 annually is well below average for Oregon (15% vs 17%), and it’s also lower than the national average (20%). In fact, nearly one-third (32%) of households in 97026 earn less than $50,000 annually – which would make it difficult to afford a typical house in this area without some serious savings or other forms of assistance from family or friends.