31523, Brunswick, GA

Brunswick, GA is located in the northwestern part of the state and has a population of just over 30,000. The 31523 zip code covers a total area of just under 10 square miles and has a median home value of $128,200. Home equity in this zip code has been on the rise for the past few years, with prices increasing by an average of 7.5% annually between 2013 and 2017. This rate is much higher than the statewide average growth rate of 3%.

One reason for this increase may be that Brunswick is experiencing strong job growth. The city's unemployment rate was 5% as of May 2018, which is lower than both the Georgia state average (6%) and national average (4%). Additionally, Brunswick has seen an influx of new residents in recent years, which may also be contributing to rising home values. In fact, according to Zillow's analysis of Census data from 2016-2017, there was a 29% increase in housing units within the 31523 zip code since 2010. This increased demand likely drove up prices for homes within this area as well.

Despite these positive trends, there are some potential risks that could impact home equity values in this area in the future. For example, if economic conditions worsen or interest rates rise significantly, homeowners could find themselves struggling to pay off their mortgages or loans on their homes. Additionally, if there are any major natural disasters or epidemics affecting Brunswick or its surrounding areas (which have happened in the past), homeowners could find themselves losing a significant amount of money due to property damage or loss of income due to illness.