29122, Peak, SC

The 29122 zip code of Peak, SC is located in the northwestern part of the state and includes a population of just over 2,000 people. The median household income in this zip code is just under $50,000, which is significantly lower than the statewide median household income of $60,000. This suggests that home equity and home prices are likely to be lower in this area than elsewhere in the state.

According to data from Zillow, the average home value in this zip code is just over $130,000. This represents a decrease of almost 10% from the peak home value of $155,100 that was recorded in 2007. In addition, Zillow data shows that there has been a steady decline in home values since 2012 – meaning that there is likely more room for prices to decline further if current trends continue.

Given these factors – low incomes and declining home values – it seems likely that homeownership rates will remain low in this area. In fact, according to recent census data from SCDOR ( South Carolina Department of Revenue), only 54% of households living in this zip code are owner-occupied compared to 68% statewide average. This suggests that many potential buyers may be priced out of the market due to high levels of competition for homes on the market.