97017, Colton, OR

Home Equity and Home Prices in the 97017 Zip Code of Colton, OR

The 97017 zip code of Colton, OR has a median home value of $128,000. This is higher than the statewide median home value of $119,500. The percentage of homes in this zip code with a mortgage is lower than the statewide percentage of homes with a mortgage at 59%. This suggests that more people in this zip code are able to afford to buy their homes outright. Additionally, the percentage of homes in this zip code that are owner-occupied is higher than the statewide percentage of owner-occupied homes at 63%. This suggests that more people in this zip code are able to live in their homes without having to rely on rental income.

One potential reason for these differences could be that there are more families living in this zip code than elsewhere in Oregon. Families tend to be more financially stable than individuals and can afford to put down larger deposits when buying a home. Additionally, Colton has been ranked as one of the best places to live by Forbes magazine multiple times over the past few years. This may have helped increase demand for housing here and contributed to higher home values.