30635, Elberton, GA

The 30635 zip code of Elberton, GA has a median home value of $136,000. This is lower than the Georgia median home value of $205,000. The 30635 zip code also has a lower than average home equity of $38,000. This means that many homeowners in this area are not able to use their home equity to purchase additional assets or pay down debt.

There are several factors that may contribute to the low home equity and home prices in the 30635 zip code. First, the area may have a high percentage of homeowners who are underwater on their mortgages (meaning they owe more on their homes than their homes are worth). Second, there may be a lack of available housing in the area which drives up prices. Finally, many homeowners in this area may be using theirhome equity to finance other investments (such as cars or furniture) rather than using it to reduce debt or invest in property improvements.

Despite these challenges, there are some encouraging trends for homeowners in the 30635 zip code. For example, according to Zillow’s Home Value Index data from January 2018*, the average monthly gain for homes in this zip code was 2%. This indicates that even though prices have been relatively stagnant over recent years, there is still potential for growth if buyers can find properties that meet their needs. Additionally, although mortgage rates have increased recently (from 3% at the beginning of 2018 to 4% currently), they remain much lower than historical averages and should continue to decline over time if current trends continue.

Overall, while homeownership rates and home equity levels remain low relative to other areas of Georgia and nationwide, there is potential for improvement over time if buyers can find properties that fit their needs and mortgage rates continue to decline.