29406, Charleston, SC

The 29406 zip code of Charleston, SC has a median home value of $181,000 and a median home equity of $118,000. This means that the majority of homes in this zip code are worth more than their original purchase price, and many homeowners have significant equity in their homes.

While the 29406 zip code is not as expensive as some other areas of Charleston, it is still a desirable area to live in. The combination of high home values and strong equity levels makes it an attractive option for buyers and renters alike.

There are a number of reasons why homeowners in the 29406 zip code have been able to achieve such high levels of home equity. First, the area is generally stable economically; there has been little growth or decline in the local economy over the past several years. Second, there is a low level of foreclosure activity in this zip code; this means that most homes here are owned by people who intend to keep them. Finally, many homeowners here have taken advantage of low interest rates over the past few years to increase their home equity holdings even further.

Despite these positive factors, there are also some risks associated with having high levels of home equity. If interest rates rise significantly (which they are likely to do at some point), many homeowners could find themselves facing significant financial difficulties. Additionally, if the market for housing in Charleston changes dramatically (as it has done in other parts of the country), those with high levels of home equity may find themselves struggling to sell or refinance their homes at reasonable prices.