28690, Valdese, NC

Home Equity and Home Prices in the 28690 Zip Code of Valdese, NC

The 28690 zip code of Valdese, NC has a median home value of $128,000. This is higher than the statewide median home value of $123,500. The 28690 zip code also has a lower than average home equity percentage of 58%. This means that there are more homes with negative equity (less than the original mortgage balance) than homes with positive equity (more than the original mortgage balance).

The average monthly payment on a 30-year fixed-rate mortgage in this zip code is $1,521. This is higher than the statewide average monthly payment of $1,381. However, because there are more homes with negative equity in this zip code compared to homes with positive equity, it takes longer for people to pay off their mortgages in this area. The median length of time it takes someone to pay off their mortgage in this zip code is 9 years.

Overall, it appears that people who live in the 28690 zip code have a harder time paying off their mortgages than people who live elsewhere in North Carolina. It may be worth considering whether or not you want to live in this area if you are planning on buying a home soon and plan on making large payments every month.