29906, Beaufort, SC

The 29906 zip code of Beaufort, SC has a median home value of $151,000 and a median home equity value of $101,000. This is significantly lower than the statewide median home value of $217,500 and the national median home equity value of $141,900. The average monthly payment on a 30-year fixed-rate mortgage in this zip code would be $1,836.

There are several factors that may contribute to the low home values in this zip code. First, Beaufort is located in South Carolina which has one of the lowest population densities in the country. This means there are fewer homes for sale and consequently less competition for buyers. Additionally, Beaufort is located near Charleston which has been experiencing significant economic decline over the past few years. As a result, many homeowners who were once able to sell their homes for above market prices have now seen their properties fall below market values. Finally, Beaufort experiences high levels of unemployment which can lead to decreased demand for housing units and reduced incomes potential for homeownership.