30224, Griffin, GA

The 30224 zip code of Griffin, GA has a median home value of $151,000. This is lower than the Georgia state median home value of $205,000. The 30224 zip code also has a lower than average home equity percentage of 58%. This means that there are more homes in the 30224 zip code that are worth less than their mortgage balance.

There are several factors that could contribute to this low home equity percentage in the 30224 zip code. One reason may be that many homes in the 30224 zip code were built before 2007, when the housing market experienced its peak and prices began to decline. Additionally, many homeowners in the 30224 zip code may have taken out high-interest loans to purchase their homes, which could have increased their debt burden and decreased their equity percentage.

Despite these factors, there are still a number of homeowners in the 30224 zip code who have significant equity in their homes. This is likely due to strong economic conditions over recent years, which has led to an increase in home values and an overall improvement in homeowner wealth. In addition, some homeowners may be able to tap into HELOCs (home equity lines of credit) or other sources of financing to help them maintain or increase their equity percentage even if house prices decline slightly over time.