98356, Morton, WA

Home Equity and Home Prices in the 98356 Zip Code of Morton, WA

The home equity and home prices in the 98356 zip code of Morton, WA are very high. The median home value in this zip code is $527,000, which is more than twice the national median home value of $165,000. Additionally, the percentage of homes that are worth more than their original purchase price is also very high in this zip code. This indicates that there is a lot of wealth concentrated in this area. In fact, according to Zillow’s 2018 Home Value Report, the 98356 zip code has a higher percentage of homes worth over $1 million than any other zip code in Washington state. This high level of wealth may be due to factors such as strong job growth and low unemployment rates in this area.

Despite these high levels of home equity and home prices, it is important to keep in mind that these values are not static – they can change over time based on market conditions and other factors. For example, if there were to be a major housing market crash or another economic recession, then values could potentially decrease significantly. It is also important to remember that not all homes within the 98356 zip code are worth as much as their original purchase price – there are many properties that are worth less than their original price due to depreciation or other factors. Nevertheless, even if a particular property does not have a high value compared to others within its neighborhood or community, it still deserves consideration because it may be an excellent investment opportunity depending on current market conditions and future prospects.