29642, Easley, SC

Home Equity and Home Prices in the 29642 Zip Code of Easley, SC

The 29642 zip code of Easley, South Carolina has a median home value of $135,000. This is higher than the national median home value of $123,500. The zip code also has a high percentage of homeowners with equity in their homes. In the zip code, 68% of homeowners have equity in their homes. This is higher than the national homeownership rate of 63%.

The average mortgage debt for homeowners in this zip code is $138,000. This is lower than the national average mortgage debt of $205,000. The percentage of mortgages that are interest only is also lower in this zip code than the national average percentage of interest only mortgages at 2%.

There are several factors that may contribute to these lower mortgage debts and higher percentages of equity ownership in this zip code. One reason may be that many residents here have low-interest-rate mortgages from banks or other lenders. Another reason may be that many residents here have good credit ratings which allow them to get low-interest-rate mortgages from banks or other lenders.

Another factor that may contribute to these lower mortgage debts and higher percentages of equity ownership in this zip code are the relatively low prices paid for homes in this area compared to other areas throughout the country. Homes here typically sell for less than they would elsewhere because they are not as popular among buyers as more expensive areas. As a result, many residents here own their homes outright rather than using a loan to purchase them like most people do elsewhere in the United States.