33823, Auburndale, FL

Auburndale, FL is located in the 33823 zip code. Home prices in Auburndale have increased significantly over the past few years, and as of September 2017, the median home price was $269,000. The average home value in Auburndale has grown by more than $100,000 since 2013. In addition to increasing home values, Auburndale also has a high level of home equity. As of September 2017, the median home equity in Auburndale was $146,500. This high level of equity is likely due to the strong economy and low interest rates.

Home equity is important because it allows homeowners to use their homes as collateral for loans or to invest money elsewhere. Homeowners who have a high level of home equity are more likely to be able to afford larger down payments and more expensive homes than homeowners with lower levels of equity. Additionally, having a high level of home equity can protect homeowners from losing their homes if they cannot repay their loans or if the market crashes.

The increase in home values and home equity in Auburndale is likely due to several factors: the strong economy over the past few years; low interest rates; and limited supply of homes available for purchase. The strong economy has led to an increase in demand for housing throughout Florida and nationwide, which has caused prices for homes to rise faster than inflation rates. Low interest rates have made it easier for people to borrow money against their homes and have helped fuel further increases in prices by making mortgages more affordable. The limited supply of homes available for purchase has also contributed to rising prices by limiting competition among buyers and driving up prices on already-expensive houses.