31557, Patterson, GA

The 31557 zip code of Patterson, GA has a population of around 10,000 people. The median household income in this zip code is $60,000 which is lower than the national median household income of $53,046. However, the median home value in this zip code is $225,000 which is higher than the national median home value of $174,500. This indicates that there are a lot of homes in this zip code that are worth a lot more than the average American home.

One reason why there are so many homes in this zip code that are worth a lot more than the average American home is because Patterson has a high rate of home equity. According to Zillow’s 2018 Home Value Index report, Patterson has a rate of home equity of around 97%. This means that 97% of all households in this zip code have at least some equity in their homes. This high rate of home equity may be due to the fact that Patterson has a low rate of unemployment and a high rate of homeownership. Additionally, Patterson has low rates of crime and poverty which may also contribute to its high rate of home equity.

Despite having such a high rate of home equity, it's important to note that not everyone in the 31557 zip code enjoys such high levelsof wealth. Approximately 26%of households in this zipcode have zero or negativehome equity while another 43%of households have only partialhome equity (their homes are worth less than their mortgages). This indicates that not everyone in Patterson enjoyshigh levelsof wealth even though most households do. It's likelythat some people who liveinthiszipcodearestrugglingto paytheirmortgagesandarenotablentohavemuchequityintheirhomesbecauseofthehighratesofcrimeandpovertyinthisarea