53015, Cleveland, WI

Home Equity and Home Prices in the Cleveland, WI 53015 Zip Code

When people think of home equity, they often think of the value of their home minus any outstanding mortgages or other debts. However, there are other ways to measure home equity. One way is to look at how much money people have left over after paying all their bills and expenses on their homes. This is called "net worth."

According to The National Association of Realtors®, median net worth for all U.S. homeowners was $141,400 in 2016, up from $135,700 in 2015 and $127,100 in 2014 (1). Median net worth for Cleveland-area homeowners was $171,200 in 2016 (2). That means that half of all Cleveland-area homeowners had more net worth than the median homeowner nationwide did!

So what does this mean for home prices? Well, if you're looking to buy a house in the Cleveland area – or anywhere else for that matter – it's important to know that there are plenty of houses available at very reasonable prices. In fact, according to Zillow®, the average price of a house sold in Cleveland during January 2018 was just under $175K (3). That's considerably lower than the national average price of $247K and much lower than some other nearby cities like Madison (+$286K), Wausau (+$313K), Green Bay (+$269K) or Minneapolis (+$291K). So if you're looking for a reasonably priced house that won't break your bank account – or if you're already living in one and just want to know how much your home is worth – then check out listings in the 53015 zip code!