33859, Lake Wales, FL

Lake Wales, FL is located in Polk County and has a population of just over 33,000. Home equity in the 33859 zip code is currently at $269,000, up from $234,000 one year ago. The average home price in the zip code is $225,000.

There are a number of factors that have contributed to the increase in home equity in Lake Wales. First and foremost is the strong economy; as more people have jobs and wages continue to rise, they are able to afford more expensive homes. Additionally, interest rates have remained relatively low for many years now which has helped to boost home values. Finally, there has been a steady influx of new residents into the area which has led to increased demand for housing.

While these factors are certainly positive for homeowners in Lake Wales, there are also some potential risks associated with this trend. For example, if interest rates rise or the economy weakens again, then home values could decline significantly. Additionally, if there is an influx of new residents who cannot afford homes at current prices (due to high debt levels or insufficient income), then tensions may arise between them and existing homeowners. In short, while home equity continues to grow rapidly in Lake Wales right now it is important for residents to be aware of both the benefits and risks associated with this situation