97380, Siletz, OR

The Siletz zip code of 97380 has a population of just over 2,000 people. The median household income in the zip code is just over $60,000, which is significantly higher than the Oregon median household income of $53,657. However, despite this high median income, home prices in the Siletz zip code are significantly lower than the Oregon statewide average. In fact, as of March 2018, the median home value in the Siletz zip code was just $128,500 - less than half of the statewide median home value of $269,900.

One possible explanation for this discrepancy between home prices and incomes may be that there is a greater concentration of wealth in Oregon than in Siletz. As of 2016, approximately 60% of all households in Oregon had at least one member who was wealthy enough to own their own home - compared to only around 30% of households in Siletz. Additionally, while there are a number of affluent neighborhoods located throughout Siletz - such as Dundee and Sandy - it appears that not many homes have been built within these areas over recent years. This could be contributing to relatively low home values within the Siletz zip code overall.

Despite these lower home values however, it is still possible for homeowners in the 97380 zip code to achieve significant equity gains if they are patient and proactive about their housing investments. Homeowners who are able to keep up with market trends and make timely repairs or upgrades can often see their homes appreciate significantly over time - even if their incomes do not grow as rapidly as those living elsewhere in Oregon.