24226, Clinchco, VA

The 24226 zip code of Clinchco, VA is located in the Shenandoah Valley region of Virginia. The area has a population of about 10,000 and has a median household income of $60,000. Home prices in the zip code have increased by about 20% over the past year, which is much faster than the national average.

One reason for this increase in home prices may be that there are relatively few homes for sale in the area. In addition, many homeowners who have been living in their homes for many years may be reluctant to sell because they believe that their home is worth more than what they are asking. This situation could lead to bidding wars and higher home prices.

Another factor that may be contributing to the increase in home prices is interest rates. The Federal Reserve has been raising interest rates slowly over the past few years, which has made it more expensive for people to borrow money to buy a house. As a result, more people are looking to purchase homes using equity from their existing homes rather than taking out new loans.