28543, Tarawa Terrace, NC

The 28543 zip code of Tarawa Terrace, NC has a median home value of $137,500 and a median home equity value of $128,000. The Tarawa Terrace area has seen an increase in home values over the past five years, with prices increasing by 7.5% from 2012 to 2016. This is likely due to the growing population and employment opportunities in the area.

The average monthly mortgage payment for a house in the 28543 zip code is $1,191 which is lower than the national average of $1,342. This may be due to low interest rates or because many homeowners have taken advantage of low interest rates offered by banks since the recession. Additionally, many homeowners in this area have access to favorable mortgage terms through government programs such as FHA or VA loans.

Despite these benefits, there are some potential risks associated with owning a home in Tarawa Terrace. One risk is that if interest rates rise above historic averages, borrowers could face higher payments on their mortgages. Another risk is that if the market for homes in this area crashes (as has happened in other areas), homeowners could find it difficult to sell their homes at fair prices.