23602, Newport News, VA

The 23602 zip code of Newport News, VA has a population of around 159,000 people. The median household income in this zip code is $76,500, and the median home value is $232,000. This means that the home equity in this zip code is around $128,000 on average.

The average rate of home equity growth in this zip code over the past five years has been around 10%. This means that the average homeowner in this area has seen their home equity grow by an average of 10% each year. This is much higher than the national average rate of home equity growth which has been around 2%.

There are a number of reasons why homeowners in this area have seen their home equity grow so quickly. One reason is that there are a lot of homes for sale in this zip code. This means that homeowners can get access to a lot of money quickly if they want to sell their house. Another reason is that interest rates have been low for a long time now, which has helped to increase the value of homes overall. Finally, Newport News is a growing city which means that there are more jobs and opportunities available to homeowners here than there were five years ago. all these factors have combined to help increase the value of homes in this area over the past few years