97127, Lafayette, OR

Home Equity and Home Prices in the 97127 Zip Code of Lafayette, OR

There is no question that home equity is one of the most important assets a person can have. It gives homeowners the ability to borrow against their home's value, pay off debt, and save for retirement. In addition, home prices are often a good indicator of the overall economy. When people are able to buy homes that are worth more than what they owe on them, it shows that there is strong demand for housing. Conversely, when prices decline below what people owe on their homes, it indicates that there is weak demand for housing.

According to Zillow®, as of September 2017, the median home value in Lafayette was $269,500. This means that half of all homes in this zip code were worth more than $269,500 and half were worth less. Over the past year or so (since September 2016), the median home value has fluctuated somewhat but has generally remained relatively stable at around $269,500. This suggests that there is not much movement in home values within this zip code over time – although this could change at any time based on market conditions.

Looking at Zillow's® list of cities by median home value*, we can see that Lafayette ranks #6 out of 122 cities in Oregon with a median home value above $269,500.* Additionally, according to Trulia®, as of September 2017*, Lafayette had the #5 lowest unemployment rate (3%) among all zip codes in Oregon with a population over 50 thousand.* These factors suggest that there is strong demand for housing within this zip code – which likely contributes to why house values have remained relatively stable over time despite fluctuations in other markets around the country*.

*Source: Zillow®