52802, Davenport, IA

Home Equity and Home Prices in the 52802 Zip Code of Davenport, IA

The 52802 zip code of Davenport, IA has a median home value of $157,000. This is higher than the Iowa median home value of $119,500. The 52802 zip code also has a higher than average home equity percentage at 69%. This means that homeowners in this zip code have more equity in their homes than most other Iowa residents.

There are several factors that may contribute to the high home equity and home prices in the 52802 zip code of Davenport, IA. Some potential reasons include:

-The presence of many wealthy families in this area who may be able to afford to buy and maintain larger homes;

-The low unemployment rate in this area which may lead to more people being able to afford mortgages;

-High levels of education attainment among residents which may lead to more jobs with good salaries that can support larger mortgages; and

-Low interest rates which make it cheaper for homeowners to pay off their mortgages over time.

Despite these factors, there is still some risk associated with owning a home in the 52802 zip code. For example, if someone loses their job or their income decreases significantly, they may not be able to keep up with payments on their mortgage or property taxes could increase significantly. In addition, while it is usually easier for people to sell a house when its worth less than what they owe on it (due to low interest rates), it can be harder when the market is hot and houses are selling for much more than what someone owes on them.