97864, Monument, OR

The 97864 zip code of Monument, Oregon is located in the Willamette Valley and has a population of around 11,000. The median home value in this zip code is $259,000, which is about $100,000 more than the statewide median home value of $217,500. Monument's home equity market has seen strong growth over the past few years as prices have increased by an average of 9.5% annually. This growth has been driven by strong demand from both buyers and sellers alike.

One factor that has helped drive home equity values in Monument is the low interest rates that are currently available. Rates have been relatively low for a number of years now, which has made it more affordable for people to borrow money to buy a home or to refinance their current mortgage. Additionally, there are a number of new homes being built in Monument every year which helps to increase demand for housing stock overall.

Despite these positive factors, there are some risks associated with buying or selling a home in the Monument area. One potential risk is that interest rates could rise over time and make it more expensive for buyers or sellers to obtain financing. Another potential risk is that the local economy could decline unexpectedly and lead to fewer jobs opportunities or lower wages which would make it harder for people to afford a house or pay off their mortgage debt. However, given the strong demand for housing stock in Monument right now combined with manageable risks associated with buying or selling a home here, homeownership appears to be an attractive option for many residents