97030, Gresham, OR

Home Equity and Home Prices in the 97030 Zip Code of Gresham, OR

The 97030 zip code of Gresham, Oregon has a population of around 102,000 people. The median home value in this zip code is $269,000 which is about $120,000 more than the median home value in Oregon as a whole. The average home equity loan amount in this zip code is $187,500 which is about $85,000 more than the average home equity loan amount nationwide.

There are a number of factors that contribute to the high home equity and home prices in this zip code. One reason is that Gresham has a high rate of homeownership - nearly 80% of households here own their homes. Additionally, Gresham has a low unemployment rate - only 4% of residents are unemployed compared to 6% nationwide. These factors help to ensure that there is ample demand for homes here and thus prices are able to rise relatively quickly.

Another reason why prices are high in the 97030 zip code is that it has a low level of poverty - only 5% of households here live below the poverty line compared to 14% nationally. This means that there is ample opportunity for people to buy homes and invest money into them - something that helps to drive up prices even further.