31707, Albany, GA

The 31707 zip code of Albany, GA has a median home value of $128,000. This is significantly lower than the national median home value of $217,500. The 31707 zip code also has a low rate of homeownership at just 36%. This is in contrast to the national homeownership rate of 62%.

One reason for the low home values in the 31707 zip code may be the high rate of unemployment in this area. The unemployment rate in Albany, GA is currently at 8.5%, which is much higher than the national unemployment rate of 4.9%. Additionally, many people who live in the 31707 zip code may not have access to adequate credit due to their poor credit history. This could lead to fewer potential buyers interested in purchasing a home in this area.

Despite these challenges, there are some positive trends associated with homes in the 31707 zip code. For example, homes here tend to be smaller than average and closer together than average, which may make them more affordable for people who live here. Additionally, homes here are typically newer and have been well-maintained over time. These factors could lead to increased prices for homes in this area over time if they continue to be desirable options for buyers.