34208, Bradenton, FL

The 34208 zip code of Bradenton, FL has a median home value of $224,900. This is significantly higher than the statewide median home value of $172,500. The 34208 zip code also has a high percentage of homeowners with equity in their homes. In fact, over 60% of households in this zip code have equity in their homes. This is significantly higher than the statewide average of just over half (53%).

One reason for the high percentage of homeowners with equity in their homes may be the strong economy and job market in Bradenton. The unemployment rate in Bradenton is just 3%, which is much lower than the statewide unemployment rate of 5%. Additionally, Bradenton has seen significant growth over the past few years and there are plenty of jobs available. This likely contributes to the high percentage of homeowners with equity in their homes.

Another reason for the high percentage of homeowners with equity may be the low interest rates currently available on mortgages. The average interest rate on a 30-year mortgage in Bradenton is just 4%. This is much lower than the statewide average interest rate of 6%. Low interest rates make it easier for people to afford a home and increase their chances of being able to borrow enough money to purchase a home with equity.

Overall, it appears that there are many reasons why households in the 34208 zip code have significant amounts of equity in their homes. These factors include strong economic conditions and low interest rates, as well as widespread access to affordable mortgages.