97351, Independence, OR

The 97351 zip code of Independence, OR is located in the northwestern part of the state and has a population of about 16,000. The median home value in this zip code is $236,000 which is significantly higher than the statewide median home value of $181,500. The average home equity in this zip code is $146,000 which is also significantly higher than the statewide average home equity of $119,200.

There are a number of factors that contribute to the high values and high equity levels in this zip code. First and foremost, Independence is a desirable location with plenty of amenities and opportunities for growth. Additionally, there are a large number of affluent residents who have been able to invest in homes over the past few years. Finally, there has been an influx of new housing developments over the past few years that have helped to increase demand for homes in this area.

Despite these positive factors, there are some challenges facing homeowners in this area. One issue is that prices have increased faster than wages over the past few years which has made it difficult for many people to afford homes on their own without taking on substantial debt burdens. Additionally, there are concerns about whether or not current market conditions will continue to support high values and high equity levels for long-term homeownership opportunities.