98586, South Bend, WA

In the 98586 zip code of South Bend, WA, home equity and home prices are both high. The average home value in this zip code is $269,000, which is significantly higher than the national average of $161,500. Additionally, the percentage of homes that are owned outright or with a mortgage is above the national average of 63%. This indicates that many residents in this zip code have a strong financial stake in their homes.

One reason for this high level of homeownership may be the low unemployment rate in this area. The unemployment rate in South Bend was 2.7% as of October 2017, which is lower than the national average of 3.9%. In addition, there are a number of businesses located in this zip code that may provide jobs for residents. These businesses include Ford Motor Company and Michelin North America Incorporated.

Another factor that may contribute to the high level of home equity and home prices in this zip code is the availability of affordable housing options. There are a number of single-family homes and condos available for purchase in this area, which makes it possible for most residents to purchase a home if they want to. Additionally, many developers have created new housing developments within close proximity to each other so that it is easy for people to find an affordable place to live.