29180, Winnsboro, SC

The 29180 zip code of Winnsboro, SC is located in the northwestern corner of the state and includes a population of just over 10,000 people. The median home value in this zip code is $128,500 and the homeownership rate is 68%. Home equity in this area has been on the rise for several years now and has reached an all-time high. In fact, according to Zillow, the average home equity growth rate in this zip code between 2013 and 2017 was 18%. This increase can be attributed to a number of factors including low interest rates, increasing demand for housing stock, and strong economic conditions.

While there are some concerns that rising home values may lead to increased levels of debt among homeowners in this area, so far there does not seem to be any evidence to support this theory. In fact, according to CoreLogic data from January 2019, only 2% of mortgages in this zip code are 90 or more days past due. Additionally, while there has been an increase in mortgage delinquencies nationwide over the past few years (although they have recently begun to decline), Winnsboro has seen a much smaller increase (0.8%). These data suggest that while home equity growth may be causing some borrowers stress right now, it is not likely leading to widespread financial problems down the road.