35022, Bessemer, AL

Home equity is the value of a home minus any outstanding mortgages or other loans on the property. In Bessemer, AL, as of September 2016, the median home equity was $137,000. This means that half of all homes in the zip code had more equity than what was owed on their mortgages. Additionally, Bessemer's home prices have been steadily increasing over the past few years. As of September 2016, the median home price was $127,500. This means that nearly two-thirds (64%) of homes in Bessemer are worth more than what is owed on their mortgages and their prices are continuing to rise.

One reason for this increase in home values is that Bessemer has a low unemployment rate and a high number of jobs available. Additionally, there is strong demand for housing due to population growth and an influx of new residents into the area. These factors have led to an increase in both sales and listings in Bessemer over the past few years.

Despite these positive trends, there are some risks associated with buying or owning a home in Bessemer. One risk is that interest rates could rise over time and cause your mortgage payments to increase significantly. Another risk is that you may not be able to sell your home for what you think it's worth if market conditions change suddenly and you find yourself with a large mortgage debt remaining on your property. It's important to consult with a real estate agent who can help you understand these risks so that you can make informed decisions about whether or not buying or owning a home in Bessemer is right for you