28348, Hope Mills, NC

The 28348 zip code of Hope Mills, North Carolina has a population of around 10,000 people. The median household income in this zip code is $51,000 which is lower than the national median household income of $53,046. The unemployment rate in this zip code is around 7% which is higher than the national unemployment rate of 5%. However, the poverty rate in this zip code is much lower at just 3%.

One reason that the poverty rate in this zip code is so low is because there are a lot of people who own their homes. As of 2016, 68% of households in this zip code were owner-occupied which is much higher than the national homeownership rate of 63%. This high homeownership rate means that there are a lot of people who have access to capital and are able to invest it in their home equity. Additionally, home prices have been increasing rapidly over the past few years in this zip code. In fact, as of August 2017, the median home price was $183,500 which is significantly higher than the median home price five years ago when it was $130,000. This rapid increase in home prices may be due to several factors including low interest rates and increased demand from buyers who are able to afford more expensive homes.