24142, Radford, VA

The 24142 zip code of Radford, VA has a population of around 36,000 people. The median household income in this zip code is $53,000 which is about average for the surrounding area. However, the home equity and home prices in this zip code are significantly higher than the median household income. In fact, according to Zillow, the median home value in this zip code is $194,500 which is more than three times the median household income.

One reason that the home equity and home prices in this zip code are so high is that there are a lot of wealthy people living in this area. According to Forbes, there are around 1,600 millionaires living in the 24142 zip code which makes up about 5% of the population. Additionally, many people who live in this area work at either Virginia Tech or Radford University which both have large endowments that help support their homes values.

Despite being high-priced, homeownership rates in this zip code are still relatively high. According to Zillow, 54% of households in this zipcode own their homes which is above average for the surrounding area. This may be because there are not a lot of affordable homes available for purchase or because many homeowners believe that owning a home is important for social status and security.