97457, Myrtle Creek, OR

The 97457 zip code of Myrtle Creek, OR has a median home value of $247,000 and a median home equity value of $146,000. The zip code has a population of 2,811 and an average household size of 2. The median age in the zip code is 43 years old.

In the 97457 zip code, there are 1,527 households that own their homes outright and 1,902 households that have a mortgage on their homes. Outright homeownership in the 97457 zip code is at its highest level since 1995 when it was at 67%. Meanwhile, mortgage ownership in the 97457 zip code has decreased by 5% since 1995. This indicates that more people are buying homes outright rather than taking out mortgages to purchase homes.

Myrtle Creek is located in Oregon's Willamette Valley which has been one of the most economically stable regions in the United States over the past few years. This stability is likely due to strong job growth coupled with low inflation rates which makes it easier for people to afford houses and keep up with rising costs. In addition, Myrtle Creek is located close to major cities such as Portland and Eugene which provide ample opportunities for employment. Therefore, it is not surprising that home prices in Myrtle Creek are relatively high when compared to other areas of Oregon or the United States as a whole.