35475, Northport, AL

Home Equity and Home Prices in the 35475 Zip Code of Northport, AL

There is no doubt that home equity and home prices are two important factors to consider when purchasing a home. In the 35475 zip code of Northport, AL, both of these factors are especially important. First, home equity is a valuable asset that can be used to pay off debt or save for future expenses. Second, home prices have been on the rise in this area over the past few years, meaning that homeownership opportunities are still available here.

According to Zillow®, as of February 2019, the median home value in the 35475 zip code was $191,200. This figure has increased by 5% over the past year and by 11% over the past three years. In addition, Zillow reports that there were 1,846 homes currently for sale in this area as of February 2019. This indicates that there is plenty of demand for homes in this area.

Given all these positive indicators about home values and housing availability in the 35475 zip code of Northport, AL, it should come as no surprise that homeownership rates here are high. As of January 2019, 94% of households living in this area were homeowners compared to an average homeowner rate across all U.S. ZIP codes of 84%. Furthermore, according to Zillow®, as of February 2019 median monthly mortgage payments for homes in this area were $1,539 which is lower than both Alabama's statewide average monthly mortgage payment ($1,715) and national average monthly mortgage payment ($1,895). These low monthly payments make owning a home here an affordable option for many families.