24161, Sandy Level, VA

The 24161 zip code of Sandy Level, VA is located in the Eastern Shore region of Virginia. The zip code has a population of about 2,000 people and an average household size of 2.4 people. The median income for the zip code is $50,000 per year and the unemployment rate is about 5%.

The home equity in the 24161 zip code has increased significantly over the past few years. In 2007, the home equity in this zip code was only $21,000. However, by 2016 the home equity had increased to $128,000. This increase can be attributed to several factors: 1) rising prices across all markets nationwide; 2) low interest rates that have made borrowing money more affordable; and 3) strong economic growth in Sandy Level over this time period.

Despite these positive trends, there are some risks associated with increasing home equity. If interest rates rise or if housing prices decline (which has happened in other markets around the country), then homeowners could experience a significant loss in their home equity investments. Additionally, if someone were to lose their job or have difficulty paying their mortgage on time (both common occurrences during tough economic times), they could find themselves facing a foreclosure situation that would result in losing their home equity investment as well.