29801, Aiken, SC

Home Equity and Home Prices in the 29801 Zip Code of Aiken, SC

The 29801 zip code of Aiken, SC has a median home value of $142,000. This is a decrease from the median home value of $158,000 in 2007. The percentage of homes with a mortgage is also decreasing; in 2007 it was 51%, but now it is only 43%. This suggests that more people are buying homes outright or using HELOCs (home equity lines of credit). There are several reasons for this trend:

1) The economy has been improving steadily over the past few years, which has led to an increase in job opportunities and wages. As a result, more people are able to afford homes without having to take out a mortgage.

2) Interest rates have been relatively low for many years now, which makes it cheaper for people to borrow money to buy a home.

3) The housing market has continued to grow even though there have been some fluctuations over the past few years. This is likely due to strong demand from buyers and limited supply from sellers.