29303, Spartanburg, SC

The 29303 zip code of Spartanburg, SC has a population of around 116,000 people. The median household income is around $50,000 and the median home value is around $175,000. There are currently around 9,500 homes for sale in the 29303 zip code and the average list price is around $174,500. The average home equity in the 29303 zip code is around $86,000.

The reason that home equity in the 29303 zip code is so high is because there are a lot of people who have been able to buy homes for relatively cheap prices over the past few years. In fact, according to Zillow’s analysis of data from Trulia, the average price of a home in the 29303 zip code has decreased by about 5% since 2016. This means that there are a lot of people who are now able to buy homes for less than they would have been able to just a few years ago.

One thing that could potentially decrease home equity in the 29303 zip code over time is if interest rates increase significantly from their current levels. If interest rates increase by more than 5%, it could make it harder for people to afford to pay off their mortgages and also make it more difficult for them to sell their homes at a higher price if they decide that they want to move sometime in the future.