29073, Lexington, SC

The 29073 zip code of Lexington, SC has a population of approximately 106,000 people. The median household income in this zip code is $68,000 which is above the national median household income of $55,046. The home equity and home prices in this zip code are both high compared to other areas in the United States.

The average home value in this zip code is $236,500 which is higher than the national average home value of $197,200. The percentage of homes that are owned by individuals is also high in this zip code at 82%. This high percentage of homeownership may be due to the fact that Lexington has a low rate of unemployment and a high rate of education attainment. Additionally, Lexington has a low rate of crime which may contribute to the high percentage of homeownership.

Home equity and home prices are important indicators for measuring an area's economic health. In general, areas with higher home values and greater percentages of homeownership tend to be economically stronger than areas with lower values and more renters. This trend appears to be particularly true for middle-class families who rely heavily on their homes as investments rather than primary residences.

While there are some potential drawbacks associated with having such a high percentage of homeownership (such as increased vulnerability to market fluctuations), overall it appears that Lexington residents are doing well economically based on their levels of home equity and home prices.