29671, Pickens, SC

Pickens, SC is located in the foothills of the Appalachian Mountains and has a population of just over 21,000. The 29671 zip code covers about 2 square miles and has a median home value of $126,000. Pickens is known for its agricultural production and has been in the news recently for its opioid crisis.

The average home price in Pickens increased by 8% from 2016 to 2017. This was slower than the national average which saw an increase of 12%. However, Pickens still had one of the highest increases in home values within South Carolina. The reason for this discrepancy may be due to the fact that Pickens is not as popular as some other areas within South Carolina, which may lead to less competition among buyers and sellers.

Home equity is important because it allows homeowners to borrow money against their homes without having to sell them first. In 2017, there were 1,827 homes with a mortgage worth more than 100% of their value. This represents about 38% of all homes in the 29671 zip code.

The percentage of homeowners who owe more on their mortgages than their home values has decreased since 2007 when it was almost 50%. This suggests that there are many homeowners who are able to refinance their mortgages if they need to or when prices increase enough so that they can afford to pay off their loans faster.

There are several factors that can influence home prices including interest rates, availability of inventory (both new and existing homes), local economic conditions (such as job growth or inflation), and changes in government policies (such as tax rates or regulations). While any one factor cannot be controlled completely, by understanding these factors you can have a better idea about how they might affect your own personal situation and how you can prepare for potential changes.