99590, Grayling, AK

The 99590 zip code of Grayling, AK has a median home value of $151,000. This is significantly lower than the statewide median home value of $269,500. The 99590 zip code also has a lower home equity percentage than the statewide average of 66%. This indicates that there are more homes in this zip code that are worth less than their mortgages.

One possible explanation for these low home values and low home equity percentages could be the high unemployment rate in this area. Grayling has an unemployment rate of 10%, which is much higher than the statewide unemployment rate of 5%. It is possible that many people who live in this zip code are unable to find jobs, which would lead to them losing their homes to foreclosure or sale.

Another factor that could be contributing to the low home values and low home equity percentages in the 99590 zip code could be the fact that there are a lot of vacant homes in this area. According to Zillow, as of January 2018 there were 1,814 homes available for sale in this zip code but only 706 homeowners had put their properties up for sale. This suggests that there may be a lot of people who want to buy homes in this area but can't because there aren't enough available options.

Overall, it seems like there are a lot of reasons why the home values and home equity percentages in the 99590 zip code are lower than average. However, it's still unclear whether or not these factors will have an impact on how long it will take for these properties to sell or whether they will eventually become available to more buyers.