27516, Chapel Hill, NC

The 27516 zip code of Chapel Hill, NC is home to a population of over 43,000 people. The median household income in this zip code is $101,929, and the median home value is $309,900. In terms of home equity, the 27516 zip code ranks #2 out of all zip codes in North Carolina with a median home equity value of $187,500. This high level of home equity indicates that many residents in the 27516 zip code are able to borrow against their homes to finance various expenses or investments.

One factor that may contribute to the high level of home equity in the 27516 zip code is the presence of many wealthy residents. The top five occupations in this zipcode are all professional or managerial positions: lawyers (6th), doctors (7th), dentists (8th), accountants and auditors (9th), and college professors (10th). These professionals and managers are likely able to afford higher-priced homes than average citizens and may be more likely to borrow against their homes for other purposes.

Another factor that may contribute to the high level of home equity in the 27516 zip code is low interest rates. Since 2007, interest rates have been at historic lows which has made it easier for homeowners to borrow against their homes. Additionally, since there are so many wealthy residents in this area, they may be more likely to have access to creditworthy lenders who can offer low interest rates on loans for buying or refinancing a house.