98642, Ridgefield, WA

Ridgefield, WA is located in the northwest corner of Washington state. The 98642 zip code covers a total area of just over 10 square miles and has a population of just over 12,000 people. Home prices in the 98642 zip code have been on the rise for quite some time now, and they continue to do so. In fact, according to Zillow, the median home value in this zip code is currently $527,900. This is a significant increase from just a few years ago when the median home value was only $449,000.

One reason that home prices have been increasing so rapidly in the 98642 zip code is because there are plenty of homes available for sale. According to MLSListings.com there are currently 129 homes for sale in this zip code and only 54 of those homes are listed at an asking price that is higher than what it costs to buy them outright (i.e., without any mortgage). This means that there are plenty of potential buyers out there who are interested in purchasing a home in this area.

Another reason why home prices have been increasing so rapidly in the 98642 zip code is because interest rates have remained relatively low throughout most of 2018 and 2019. This has made it much more affordable for people to borrow money to purchase a home than it would have been if interest rates had increased by more than they did during those years.

Overall, it seems safe to say thathome pricesinthe98642zipcodeof Ridgefieldareontheriseandtheycontinuetodosoforat leastthenextseveralyearsunlessinterestratesbegintoincreasemorerapidlythantheyhavedonerecentlyorthereisaburningoutofhousesintheareathatwouldpreventpeoplefrompurchasinghomes.(Zillow)