97055, Sandy, OR

Home equity is the difference between the market value of a home and the amount of money that a homeowner owes on their mortgage. The market value of a home can be determined by looking at recent sales prices in the area, while the amount owed on a mortgage can be found through a home loan calculator.

According to Zillow, as of March 2019, the median home value in 97055 was $269,900. This means that homeowners in this zip code had equity in their homes worth approximately 67% of what they owed on their mortgages.

While 97055 homeowners have significant equity in their homes, there is still some risk associated with owning property here. For example, if interest rates rise significantly or if the local economy suffers an downturn, homeowners could find themselves struggling to make payments on their mortgages. Additionally, since Sandy is located in Oregon's coastal zone, it is susceptible to hurricanes and other natural disasters which could damage or destroy homes.

Despite these risks, 97055 homeowners are likely to enjoy considerable benefits from owning property in this area. For one thing, Sandy residents enjoy some of the lowest crime rates in Oregon and neighboring counties. Additionally, Sandy has excellent schools and access to many amenities including shopping centers and recreational areas.