97402, Eugene, OR

The 97402 zip code of Eugene, OR has a median home value of $269,000 and a median home equity value of $146,000. This is a relatively high median home value and median home equity value when compared to other zip codes in the United States. The 97402 zip code also has a relatively low rate of homeownership when compared to other zip codes in the United States. Approximately 58% of households in the 97402 zip code own their homes, which is lower than the national homeownership rate of 63%.

One reason that the 97402 zip code has a high median home value and median home equity value is that there are a lot of wealthy residents living in this area. The percentage of households earning over $200,000 per year is higher than the national average percentage of households earning over $200,000 per year. Additionally, there are many affluent families living in this area who have invested money into their homes over time. This increased demand for housing in the 97402 zip code has led to higher prices for homes and greater equity in homeowner's portfolios.

There are some factors that could lead to decreased prices for homes in the 97402 zip code. For example, if more people were to move into this area or if interest rates were to increase significantly, then prices for homes would likely decrease. Another potential factor that could lead to decreased prices for homes is if there was an economic recession or another financial crisis that caused people to lose their jobs or reduce their income levels significantly. If this happened in the 97402 zip code, then fewer people would be able to afford homes and prices would likely decline accordingly.