28387, Southern Pines, NC

Home Equity and Home Prices in the 28387 Zip Code of Southern Pines, NC

Southern Pines is located in Wake County, North Carolina. The zip code of 28387 has a population of approximately 27,000 people. According to the 2010 census, the median household income was $69,000. The median home value was $236,500. In terms of home equity and home prices in the zip code of 28387, there has been a significant increase over the past five years.

In 2009, the median home value was $217,500. In 2013, the median home value increased to $236,500. This represents an increase of 16%.

The average monthly mortgage payment for homes in this zip code is $1,544. This represents an increase from 2009 when the average monthly mortgage payment was $1,356. Over the past five years there has been a significant increase in mortgage payments across all categories including interest rates and monthly payments.

The reason for this increase can be attributed to several factors including: 1) an increasing demand for housing due to an influx of new residents into Southern Pines; 2) low interest rates that have made mortgages more affordable; and 3) limited inventory available for purchase within Southern Pines which has driven up prices.