97068, West Linn, OR

West Linn, Oregon is located in the 97068 zip code. According to the 2010 census, West Linn has a population of 23,848 people. The median household income in West Linn is $87,912 and the median family income is $113,711. The 97068 zip code has a home equity value of $269,000 and a home price of $309,000.

The average mortgage rate in West Linn was 4.27% as of December 31st, 2016 according to Zillow.com. This means that if you were to borrow $300,000 on a 30-year fixed-rate mortgage at 4.27%, you would be required to pay back $329,680 over the course of the loan term (assuming no interest or other fees are added). Assuming that you could find a lender who offered such a low rate and that your credit score was good enough (a not impossible feat), purchasing a home in West Linn would likely be an affordable option for most families.

Despite having relatively high rates for mortgages in comparison to many other areas across the country, home prices in West Linn have remained relatively stable over recent years. In fact, according to data from Trulia.com as of September 2017*, the average list price for homes within the 97068 zip code had only increased by 0.5% since September 2016 – which is much slower than both inflation (+2%) and overall U.S.-wide housing prices (+4%).*

This stability may be partially attributable to strong demand – especially among families with children – combined with limited supply (due largely to zoning restrictions which keep many homes out of reach for those who do not meet stringent criteria). As such, it seems likely that prices will continue to rise slowly but steadily over time – especially if current trends continue unabated*. However even if prices do increase more quickly than expected (or if some unforeseen economic crisis causes them to decline), buying a home in West Linn should still remain an affordable option for most families.*