98110, Bainbridge Island, WA

The 98110 zip code of Bainbridge Island, WA has a median home value of $1,072,500 and a median home equity value of $269,000. This is significantly higher than the national median home value of $181,600 and the median home equity value of $146,200. The high home values in the 98110 zip code are likely due to the affluent population and excellent schools in this area.

The average monthly mortgage payment for homes in the 98110 zip code is $1,898 which is lower than the national average monthly mortgage payment of $2,191. This indicates that many homeowners in this area are able to afford their mortgages despite having high home values. Additionally, Bainbridge Island has some of the lowest interest rates available nationwide so homeowners can save money on their mortgage payments by taking advantage of these rates.

Despite having high home values and low interest rates, there are still some risks associated with owning a home in the 98110 zip code. For example, if someone loses their job or experiences other financial setbacks they may find it difficult to make their monthly mortgage payments. Additionally, if there is an earthquake or other natural disaster that affects homes in this area it could lead to increased insurance premiums and decreased property values.