Median Home Price By Zip Code

Posted on by Forest in General, Opinion, Saving Money & Finances

Median home price by zip code

Median Home Price By Zip Code - If you are in the market for a new home then it’s a good idea to step out of your locality and look around surrounding areas too, even if you have never lived there before or know no one there. Even just skipping a few streets to a new zip code could make a big price difference though if you really don’t want to move far.

I grew up in a part of South East London in UK called Greenwich. In Greenwich there was many towns of varying quality. Greenwich (A town within the borough of Greenwich) was the place to be yet Charlton and Deptford (much cheaper places) bordered it on both sides. It was always cheaper to buy on the fringes of Greenwich in the Charlton and Deptford zip codes even though often they were effectively still in Greenwich.

If you have cash ready or are in a good credit position and want to take on a mortgage then now could be the best time to buy. House prices have tumbled, many properties are vacant and interest rates are low as ever so you as a buyer are in a very strong position. It appears that some of the biggest drops may be in the lowest priced areas so taking a gamble on the lower end of the market could get you the most house for your money, of course the worry is that the value may never fully return but historically this is not normally the case. You also have to worry that the cheapest properties in the areas that have dropped the most may not have great employment opportunities and it’s possible this has also fueled a rise in crime (although not always).

Basically get to know the area very well and look at all local statistics. If the price really is too low then there is likely something wrong with it.

Median Home Price By Zip Code

Ok back to the article point! If you have not visited a website called Trulia yet then you have to. They have an excellent map of USA that shows house prices using a heat map scale. The heat map can be found here: National Heat Map.

The map allows you to view median list prices at a glance and then zoom into a State and further into a County to view median list prices per Zip code. From there you can even view listings to see what is available.

Looking at the overall USA map I can see that Ohio has the lowest list prices. Zooming into Ohio shows that Henry County has the lowest median list price at under $90k. Zooming further into the heat map shows that Zip codes 43527 and 43516 astoundingly have average list prices between $26k and $32k! I know nothing about this area but it looks pretty rural. Who knows it may be a great place for a 100% cash down retiring couple to go and rest!

Anyway as you can see I love this map and it really helps for quick zooming around USA and pinpointing Zip code areas of interest. As you can view listings too you may even stumble across a few properties that you may want to view.

Be careful as these super low prices can make you jump into a bad decision but if you keep your head out of the clouds and your thinking clogs well oiled you can come out with a well thought out bargain. I don’t see property as the best investment but in this climate I am sure I could be totally wrong!

As always I would love you feedback.

Related: How Much House Can You Afford

Thanks for reading - Median Home Price By Zip Code

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