22903, Charlottesville, VA

The 22903 zip code of Charlottesville, VA has a median home value of $219,900 and a median home equity value of $137,500. These values are significantly higher than the statewide median home value of $146,400 and the nationwide median home equity value of $142,600. This indicates that the residents in this zip code are more likely to have a higher net worth than the average resident in Virginia or across the United States.

One possible explanation for this discrepancy is that Charlottesville is a relatively affluent city. The unemployment rate in Charlottesville is 3%, which is lower than both the statewide unemployment rate (4%) and the nationwide unemployment rate (5%). Additionally, Charlottesville has a high level of education attainment: nearly half of its residents have at least a bachelor's degree. These factors may contribute to higher incomes and greater wealth accumulation among Charlottesville residents.

Another potential explanation for these high home values is that Charlottesville has experienced strong growth over the past several years. The city's population increased by 10% between 2010 and 2015, which was faster than either Virginia or U.S. population growth rates during that time period. This rapid growth may have led to increased demand for housing stock and thus higher home values in this zip code.