30083, Stone Mountain, GA

The 30083 zip code of Stone Mountain, GA is located in the Atlanta metropolitan area. The median home value in this zip code is $188,000 and the median home equity is $137,000. This means that approximately 57% of homes in this zip code are worth more than their original purchase price. Additionally, the average home value growth rate for this zip code over the past five years has been 5%. This indicates that there is a high demand for housing in this area and that prices are likely to continue to rise.

Given these facts, it is not surprising that home equity loans are among the most popular types of loans available in the 30083 zip code. In fact, according to Zillow’s 2018 Home Equity Loan Report, nearly one-third (31%) of all mortgages in this zip code are based on a HELOC arrangement. Moreover, since HELOCs allow borrowers to borrow against their homes’ equity without having to pay interest or make monthly payments, they can be a very cost-effective way to finance a purchase or renovation project.

Another important factor affecting home prices and home equity in the 30083 zip code is population growth. Since this area has seen significant population growth over the past few years – particularly since 2016 – there has been an increased demand for housing units and consequently higher demand for residential property values. In addition, since many new residents are likely seeking homes near major employment centers (such as those found in downtown Atlanta), neighborhoods with high concentrations of people also tend to have higher home values and greater levels of home equity relative to other areas within a given city or county.