98363, Port Angeles, WA

The 98363 zip code of Port Angeles, WA has a median home value of $269,000. This is a decrease from the median home value of $295,000 in 2007. The reason for this decrease is likely due to the housing market crash that took place in 2008. However, despite this dip in home values, the 98363 zip code still ranks as one of the most valuable zip codes in Washington state.

Despite the dip in home values over the past few years, there are still many homeowners who are benefiting from rising prices and increased equity in their homes. For example, if you bought your house for $200,000 five years ago and have been making monthly mortgage payments of $1,500 throughout that time period, your total investment would be worth approximately $260,000 today. If you sell your house now for $269,000 (assuming an average 3% down payment), you would receive approximately $277,500 after all applicable taxes and fees are paid. In other words: Your net gain on selling your house would be approximately $8500 (or 10%).

This increase in equity is especially important to consider when looking at long-term financial planning considerations. For example: If you plan on staying in your house for at least another 5 or 10 years (which is generally a good idea), having more than 20% equity will give you some peace of mind knowing that even if the market takes a downturn again – and it certainly could – you’ll still be able to sell your house relatively easily and recoup most or all of your original investment.