29564, Lane, SC

The 29564 zip code of Lane, SC is located in the southeastern corner of South Carolina and includes a population of approximately 9,000. The median household income in this zip code is $59,000, which is lower than the national median household income of $53,046. The unemployment rate in this zip code is 6.5%, which is higher than the national unemployment rate of 5.1%. The poverty rate in this zip code is 16.4%, which is higher than the national poverty rate of 13.0%.

Home equity and home prices are important indicators of economic health for a community. Home equity refers to the value of a homeowner's home minus any outstanding mortgages or other liens on that property. Home prices are based on a number of factors including local market conditions, interest rates, and availability of homes for sale. In general, when there are more homes available for sale and interest rates are low, home prices will be higher than when interest rates are high and there are fewer homes available for sale.

In the 29564 zip code of Lane, SC there were 1,819 single-family homes sold between January 1st and December 31st 2018 valued at an average price of $186,500. This represents an increase from 2017 when there were 1,624 single-family homes sold at an average price of $183,100 over the same period (January 1st to December 31st). Over the past five years (2015-2018), there have been 3,927 single-family homes sold at an average priceof $187 thousand each year in this zipcode - indicating that home values have increased by 8% annually over that time frame (compared to 4% nationally).

While it appears that home values have increased moderately in Lane over recent years relative to other areas across South Carolina , it should be noted that these figures may not reflect current market conditions as they were collected prior to recent market volatility including both Hurricanes Florence and Michael . Additionally , while median household incomes within Lane appear lower than those found nationally , it should also be noted that this figure does not take into account various expenses such as property taxes or mortgage payments which could significantly impact a family's ability to purchase a home within Lane .

It should also be noted that while most homeowners within Lane appear to be making progress paying down their mortgages or reducing their overall debt levels , some homeowners may still find themselves struggling due to current market conditions or personal financial circumstances .

Overall , while there may be some localized challenges facing homeowners within 29564 ZIP Code area , overall trends suggest modestly increasing values coupled with modestly increasing incomes – indicative of healthy economic growth within this community .