35045, Clanton, AL

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. Home prices are the price at which homes are sold in an area. Both home equity and home prices can change over time, depending on many factors including interest rates, inflation, and local market conditions.

In Clanton, AL 35045, the median home value was $142,200 in January of 2019 according to Zillow. This is up from $135,000 in January of 2018. The average monthly payment for a 30-year fixed-rate mortgage in Clanton was $1,521 in January 2019 according to Freddie Mac. This means that homeowners could afford to pay off their mortgages within 15 years if they made only the required monthly payments.

While there has been an increase in home values over the past year or so in Clanton 35045, it’s important to keep in mind that these values can fluctuate greatly depending on market conditions and other factors. In addition, while most homeowners would be able to afford to pay off their mortgages within 15 years if they made only the required monthly payments, some may need longer than that if they have higher interest rates or other debts associated with their homes.