98862, Winthrop, WA

The Winthrop, WA 98862 zip code has a median home value of $282,000 and a median home equity of $128,000. This is significantly higher than the national median home value of $177,500 and the national median home equity of $102,500. The Winthrop zip code also has a significantly higher than average homeownership rate of 84%. This indicates that many households in this zip code are owner-occupied rather than renter-occupied.

One reason for the high homeownership rate in the Winthrop zip code may be that there are relatively few homes for sale in this area. In fact, only 2% of all homes for sale in the 98862 zip code are currently located within its boundaries. This scarcity of available homes may make it more difficult for potential buyers to find a suitable property and may lead to higher prices for homes in this area.

Another factor that may contribute to high home values in the Winthrop zip code is its proximity to Seattle. As mentioned earlier, approximately 84% of households in the 98862 zip code are owner-occupied which means that many residents have access to high paying jobs in Seattle. This wealth accumulation within close proximity to major metropolitan areas can lead to increased demand for housing and increased prices for properties within these areas.