98155, Seattle, WA

The 98155 zip code of Seattle, WA is one of the most expensive zip codes in the United States. Home prices in this zip code are significantly higher than the national average and home equity values are also high. The main reasons for this high home value and home equity in this zip code are the strong economy and low interest rates.

According to Zillow, the median home value in 98155 is $527,000 and the median home equity value is $254,700. These values are significantly higher than the national average of $217,500 and $142,000, respectively. In addition, 98155 has a low interest rate environment which contributes to its high home values. The current interest rate for mortgages in this zip code is 3.4%, which is much lower than other areas of the country where rates range from 4% to 6%. This low interest rate environment makes it easier for people to buy homes and increase their home equity values.

Another reason why 98155 has such high home values is that there are a lot of wealthy residents living in this area. According to Forbes magazine, Seattle ranks as one of the top five most expensive cities in America with a median household income of over $100,000 per year. This affluent population can afford to pay more for homes because they can afford to pay down their mortgage faster or take out a larger loan size. Additionally, many people who live in 98155 own their homes outright rather than renting which also contributes to high home values in this area.

Despite these factors contributing to high home values andhome equityin98155zipcodeof SeattleWA,.therearestillsomepeoplewholiveinthisareaandcannotaffordtobuyahomeorincreasetheirequityvaluesduetocurrentmarketconditionsandlowinterestrates