67340, Dearing, KS

The Dearing, KS 67340 zip code has a population of approximately 4,000 people. The median household income in the zip code is $60,000, and the median home value is $130,000. Home equity in this zip code is high relative to other areas of the country. In fact, according to Zillow's 2018 Home Value Index report, the home equity in this zip code is 5% higher than the national average.

One reason for this high level of home equity is that Dearing has a low rate of unemployment. The unemployment rate in Dearing was 2.8% as of May 2019, which is lower than both the Kansas and U.S. averages. Additionally, Dearing has a low rate of poverty: 8% as of May 2019 compared to 14% for Kansas and 17% for the U.S., according to data from The Daily Kos . These factors contribute to a high level of home equity because people can afford to borrow against their homes more easily than if they were living in an area with higher rates of unemployment or poverty.

Another factor contributing to high levels of home equity in Dearing are its relatively affordable housing costs compared to other areas of the country. According to Zillow's 2018 Home Value Index report , the cost of housing in Dearing is 9% less than it is nationally average . This means that people can afford larger homes on average here than they would be able to elsewhere in America. Additionally, there are relatively few homes for sale in Dearing – only 1 out of every 25 listings on Zillow are currently available for purchase . This scarcity drives up prices and contributes further to residents' ability to leverage their homes' value through mortgages or other forms of debt financing."