24053, Ararat, VA

The 24053 zip code of Ararat, VA is located in the Shenandoah Valley and has a population of approximately 3,000. The median home value in this zip code is $167,000 and the median household income is $75,000. The average home equity in this zip code is $130,000.

There are a number of factors that affect home prices in the 24053 zip code of Ararat, VA. These include local market conditions (e.g., demand for homes vs. available inventory), interest rates (which affect borrowing costs), and government regulations (e.g., zoning laws).

Generally speaking, home prices in the 24053 zip code of Ararat, VA have been increasing over the past few years due to strong demand from buyers and limited supply from sellers. Interest rates have also played a role in driving up prices; as interest rates have gone up over time, it has become more expensive for people to borrow money to buy a home or refinance their existing mortgage. In addition, zoning laws can impact how many homes are available for sale or how much they can be priced at; if there are restrictions on building new homes or raising the price of existing homes within certain areas, this can lead to higher prices overall within that particular area.