23128, North, VA

The 23128 zip code of North, VA is home to a population of over 24,000 people. The median household income in this zip code is $85,000 and the median home value is $269,000. Home equity in this zip code is very high compared to other areas of the country. In fact, approximately 78% of households in this zip code have at least some equity in their homes. This high level of equity can be attributed to the strong economy and low interest rates that have been in place for many years.

Home prices in the 23128 zip code have increased significantly over the past few years. The average home price has increased by almost 30% since 2013, which is much faster than the national average increase of only 6%. This strong growth rate has led to a large increase in home equity values within this zip code. As of March 2019, there are an estimated 97% homeownership rates within this zip code which is above the national average homeownership rate of 66%. This high level of homeownership has helped to keep housing costs relatively low compared to other areas of the country.

Despite these positive trends, there are some risks associated with buying or owning a home in the 23128 zip code. One potential risk is that interest rates could rise and make it more difficult for people to afford their homes. Another potential risk is that house prices could decline if there are any major economic downturns or if interest rates rise again beyond current levels. However, overall it appears that home ownership and equity within homes remains very strong in the 23128 zip code and should continue to do so for many years to come.