98621, Grays River, WA

The 98621 zip code of Grays River, WA is located in the north-central part of the state and has a population of approximately 2,000. The median household income in this zip code is $83,000 and the median home value is $269,500. Home equity in this zip code is relatively high compared to other areas of the state. In 2016, the average home equity in Washington was $146,200. The high home equity in this zip code may be attributable to several factors including:

1) The low rate of foreclosure activity in this area;

2) The strong economy over the past few years; and

3) Low interest rates.

Despite these positive factors, there are some risks associated with having high home equity. If interest rates rise or if there are any other economic setbacks, homeowners could find themselves struggling to pay off their mortgages. Additionally, if someone wants to sell their home but does not have enough equity built up (due to a decrease in value or a loan modification), they may face difficulty finding a buyer who is willing to take on such a large mortgage obligation.