35173, Trussville, AL

The 35173 zip code of Trussville, Alabama is located in the northeast corner of the state and has a population of around 36,000. The median household income in this zip code is $60,000 and the median home value is $158,000. Home equity in this zip code has increased by over 20% over the past year and home prices are expected to continue to rise.

One reason for the increase in home equity is that there are a lot of families who have been able to refinance their mortgages. This has allowed them to take advantage of low interest rates and get more money out of their homes than they would have if they had stayed with their original mortgage. Additionally, there are a lot of new homes being built in this zip code which means that there are more homes available for sale than there were a year ago.

Another factor contributing to the increase in home equity is that many people are using HELOCs (home equity lines of credit) to supplement their income. This allows them to borrow money against their home equity without having to pay interest on it. Many people use HELOCs as an emergency backup fund so that they can cover unexpected expenses like car repairs or medical bills.

Despite these positive trends, it's important to keep in mind that home values can still decline if there are any significant changes in the economy or if interest rates go up again. In addition, it's important to be aware that not all homeowners who use HELOCs will be able to repay them when they come due - especially if interest rates go up significantly from where they are now.