23801, Fort Lee, VA

The 23801 zip code of Fort Lee, VA is located in Prince William County and has a population of approximately 41,000. The median household income in this zip code is $101,000 and the median home value is $319,000.

Fort Lee has seen a significant increase in home equity since 2007. In 2007, the home equity in this zip code was $146,000. By 2016, the home equity had increased to $269,000. This indicates that there has been a 116% increase in home equity over the past seven years.

This increase in home equity can be attributed to several factors. First, Fort Lee has experienced an influx of new residents due to its proximity to Washington D.C., which has led to an increase in job opportunities. Second, Fort Lee underwent extensive redevelopment starting in the late 1990s which led to an increase in property values. Finally, Fort Lee was one of the few areas that did not experience any major housing market crashes during the Great Recession (2008-2009).

Despite these positive trends, there are some challenges facing homeowners in this zip code. One issue is that Fort Lee's economy is relatively stagnant compared to other parts of Prince William County and Virginia Beach (the two largest cities within this zip code). As a result, there has been little growth or inflationary pressure on prices for homes and cars over the past few years. Additionally, interest rates have remained relatively low throughout this time period which makes it more difficult for homeowners to pay off their mortgages or take out new loans for renovations/upgrades on their homes.

Overall though, homeownership rates are high relative to many other areas across America and there appears to be strong demand for residential properties within the 23801 zip code. This suggests that although there may be some short-term challenges associated with rising prices and low interest rates (which could lead to increased borrowing costs), long-term prospects appear positive for those who are interested in buying or investing in property within this area