98849, Riverside, WA

The Riverside, WA 98849 zip code has a population of around 112,000 people and a median home value of $278,500. The home equity in this zip code is around $130 million, which is significantly higher than the national average of $100,000. This high level of home equity may be due to the strong economy and low interest rates in the area.

Another factor that may contribute to the high level of home equity in this zip code is the fact that many residents are homeowners. Homeownership is generally considered to be a good investment because it provides stability and security for families. In addition, homeownership can lead to increased property values over time as well as increased access to capital resources such as mortgages and refinancing options.

Despite these positive factors, there are also some risks associated with owning a home. For example, if someone loses their job or their income decreases significantly, they may find it difficult to make mortgage payments or pay off other debts related to their house such as property taxes and insurance premiums. Additionally, if the market for homes in the area falls significantly (which has happened in other parts of the country), homeowners could find themselves facing significant financial difficulties.