35091, Kimberly, AL

The 35091 zip code of Kimberly, Alabama is home to a population of about 9,000 people. The median household income in this zip code is $48,000, which is considerably lower than the statewide median household income of $53,046. This suggests that the majority of households in this zip code are either low-income or struggling financially.

Despite these challenges, home prices in the 35091 zip code have been relatively stable over the past several years. In March of 2016, the median home price was $119,500. This figure has remained relatively unchanged since then and currently stands at $120,000.

One potential explanation for this stability is that there are not a lot of new homes being built in this zip code. In fact, according to Zillow’s Home Value Index (HVI), only 2% of homes in this zip code are newly constructed compared to a statewide average of 5%. This could be contributing to the stability of home prices as well as limiting available inventory for potential buyers.

Another factor that could be contributing to stable home prices in the 35091 zip code is low interest rates. Currently, mortgage rates are hovering around 3%. This means that even if someone were to borrow money to purchase a home in this area they would likely be able to afford it without having to pay high interest rates.