28904, Hayesville, NC

Hayesville, NC is located in the 28904 zip code. According to the 2010 census, the population of Hayesville is 2,898. The median household income in Hayesville is $51,000 and the median family income is $59,000. The percentage of households that are below the poverty line is 3%.

The average home value in Hayesville is $137,500. The percentage of homes that are owner-occupied is 81%. The percentage of homes that are renter-occupied is 19%.

There has been a steady increase in home values over the past five years. In 2009, the average home value was $128,400. In 2013, the average home value was $145,100. In 2015, the average home value was $157,900. And in 2017, the average home value was $167,600. This trend appears to be continuing as of 2018 as evidenced by recent sales data which shows an increase in prices again for homes within this zip code.

One factor that may be contributing to this trend is low interest rates which make it more affordable for people to borrow money to buy a house or refinance their current mortgage. Another factor could be increased demand for housing due to an influx of new residents and businesses moving into Hayesville or surrounding areas over recent years. Additionally, Hayesville has seen an increase in jobs and wages over this same time period which may also contribute to higher home values.

Despite these positive trends however there are still many homeowners who are struggling to afford their monthly mortgage payments even with historically low interest rates and stable housing prices overall statewide (Zillow). For example according to Zillow’s latest Statewide Housing Market Report released on May 1st 2018 there were 11 counties across North Carolina where more than 30% of all homeowners were “underwater” meaning they owed more on their mortgage than their house was worth (Zillow). This includes both owner-occupied and renter-occupied homes within these counties which suggests that even though homeownership rates have remained relatively stable throughout much of North Carolina since 2007 (National Association of Realtors), there remains a significant number of people who are struggling financially when it comes to owning a house or being able to refinance their current mortgage into something more affordable (National Association of Realtors).

Despite these challenges however it should be noted that not everyone living within Hayesville faces these same challenges when it comes to buying or refinancing a house - some people have been able to do so at much lower costs than others due eitherto good luck or having accessto better credit scores or both (National Associationof Realtors). Additionally while prices have increased steadily over time there has been less changeover from one price category into another indicating stability within local market conditions overall (Homesales Northwest Inc.).

Overall then while there continue To be many homeowner who struggle with affordability issues when trying To purchase/refinance a house within this zip code overall prices appear relatively stable and increasing at a rate consistent with national averages across all regions nationwide (Zillow)