97302, Salem, OR

Salem, Oregon is a city of about 97,000 people located in the Willamette Valley. The 97302 zip code covers much of the city's eastern edge and has a median home value of $269,100. Home prices in this zip code have increased significantly over the past few years, reaching their highest point in 2016.

Home equity is one of the most important assets that homeowners can possess. It provides homeowners with a cushion against unexpected expenses and allows them to borrow money against their home equity without having to sell it or take on additional debt. Home prices are an important factor in determining home equity values. In general, homes that are closer to major metropolitan areas or those that have better amenities (such as larger yards) tend to have higher home equity values than homes in less desirable areas.

The 97302 zip code has seen significant growth over the past few years due to its proximity to Portland and other major cities. This growth has led to increased demand for housing and consequently, higher home values. Salem is also experiencing strong economic growth which is contributing to the increase in home values. Despite these factors, there is still room for further price appreciation in this area due to limited supply and increasing demand from buyers who are able to afford these high prices.