35244, Birmingham, AL

Birmingham, AL is a city located in the southeastern region of the United States. The city has a population of over 212,000 and is home to several universities, including the University of Alabama at Birmingham (UAB). The 35244 zip code covers much of Birmingham's eastern suburbs and includes some affluent areas such as Homewood and Vestavia Hills.

According to data from Zillow, home prices in the 35244 zip code have increased by an average of 9.8% annually since 2013. This rate outpaces the national average growth rate of 7.1%. In addition, Zillow reports that during this same time period, home equity values in this area have increased by an average of 36%. This means that homeowners in this area are able to borrow more against their homes than typical homeowners nationwide.

The reasons for these high rates of home value growth are complex and include a number of factors such as low interest rates and strong demand from buyers. Additionally, Birmingham's economy has been expanding rapidly over the past few years which has led to an increase in job opportunities and wages. As a result, many people who would have previously been unable to afford a house are now able to purchase one due to rising incomes.

Despite these positive trends, there are also some potential risks associated with housing prices in Birmingham. For example, if economic conditions weaken or interest rates rise significantly then homeowners could find themselves struggling to pay off their mortgages or lose all their equity in their homes. Additionally, if there is a significant increase in crime or other problems within the community then buyers may be discouraged from purchasing homes here altogether.