97837, Hereford, OR

The 97837 zip code of Hereford, OR has a median home value of $128,900. The home equity in this zip code is $51,000. This means that the average homeowner in this zip code has over $68,000 in equity in their home. Additionally, the average price per square foot for homes in this zip code is $92. This means that homes here are generally quite affordable compared to other areas of the country.

One reason why homes here are so affordable is that there is a low rate of homeownership here. Only 54% of households in this zip code own their homes, which is lower than the national average of 63%. Additionally, the percentage of households earning over $100,000 a year is also lower than the national average. This suggests that many people who live in this area are able to afford to buy a home even though it's not one of the most expensive areas to live in Oregon.

Another reason why homes here are so affordable is that there is a low rate of unemployment here. The unemployment rate for adults aged 25-54 years old in this zip code is only 3%, which is much lower than the Oregon state unemployment rate (6%). This indicates that there are plenty of jobs available for people who want them and that people aren't forced to leave their homes because they can't find work.

Overall, it seems like affordability and job availability are two major factors contributing to why homes prices and home equity are so high in the 97837 zip code of Hereford, OR. It's definitely an area worth considering if you're looking for a place to live or invest money into!