33981, Port Charlotte, FL

The 33981 zip code of Port Charlotte, FL has a median home value of $185,000. This is higher than the statewide median home value of $181,200 and the national median home value of $177,200. The 33981 zip code also has a high percentage of homes with a mortgage (79%) and a low percentage of homes without a mortgage (21%). These factors contribute to the high home equity in this zip code.

The average monthly payment on a mortgage in the 33981 zip code is $1,068. This is lower than the statewide average monthly payment of $1,138 and the national average monthly payment of $1,231. The 33981 zip code also has a low percentage of households that are underwater on their mortgages (5%) compared to other Florida ZIP codes. This indicates that there are many homeowners who are able to afford their payments despite having high levels of home equity.

The 33981 zip code has seen strong growth in home prices over the past five years. The average price for homes in this zip code increased by 36% from 2012 to 2016. This strong growth is likely due to several factors: an increasing demand for housing in Port Charlotte due to an increase in population; limited supply due to zoning restrictions; and low interest rates that have made mortgages more affordable compared to other forms of financing. While there may be some risk associated with buying or owning a home in this area, it appears that most homeowners are able to afford their payments and benefit from rising property values over time.