98226, Bellingham, WA

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. Home prices are the price at which homes are sold in an area. Both of these factors can change over time, so it's important to keep track of both.

According to Zillow, as of March 2019, Bellingham's 98226 zip code had an average home value of $373,000. This is up from $359,000 as of March 2018 and $324,500 as of March 2017. The average home value has increased by 5% since 2017.

The percentage increase in Bellingham's home values can be attributed to a number of factors including population growth ( Bellingham has seen a 9% increase in population since 2010), low interest rates (the Federal Reserve has kept interest rates low for over two years now), and limited supply (due to zoning restrictions).

However, there are also some risks associated with buying a home in Bellingham right now. For example, there is potential for another housing bubble to form if interest rates rise or if more people decide to buy homes in the area. Additionally, there is always the possibility that the market will decline and homeowners will have to sell their homes at a lower price than they originally paid.

Overall though, it appears that homeownership remains strong in Bellingham and prices continue to rise despite some potential risks.