29902, Beaufort, SC

The 29902 zip code of Beaufort, SC has a median home value of $133,000 and a median home equity of $101,000. This is significantly lower than the statewide median home value of $217,500 and statewide median home equity of $142,700. The 29902 zip code also has a significantly lower homeownership rate than the statewide homeownership rate of 68.5%.

There are several factors that may contribute to the low home values in the 29902 zip code. One potential reason is that Beaufort is located in South Carolina's Lowcountry region which has been experiencing significant economic decline over the past few years. Additionally, there are relatively few homes for sale in this zip code which may lead to higher prices due to demand from buyers.

Despite these challenges, there are some indications that the 29902 zip code may be starting to experience some positive trends. For example, recent data shows that the number of homes sold in this zip code increased by 8% from 2016 to 2017 which could indicate that buyers are beginning to return to this area and drive up prices. Additionally, Home Depot recently announced plans to open a new store in Beaufort which could lead to increased demand for housing and consequently higher home values.