35571, Hodges, AL

The 35571 zip code of Hodges, AL is located in the southeastern corner of the state and includes a population of approximately 9,000. The median household income in this zip code is $41,500, which is lower than the statewide median income of $48,046. The unemployment rate in this zip code is 5.5%, which is higher than the statewide unemployment rate of 4.9%. Home prices in this zip code have increased by an average of 7% over the past year and are currently at their highest point since 2007.

One factor that has contributed to the increase in home prices in this zip code is the low supply of homes available for sale. There are only 2 homes for sale per every 10 listings on Zillow, which is far below the national average of 3 homes for sale per every 10 listings. This lack of available homes has driven up prices as buyers have had to compete for a limited number of properties. Additionally, Hodges has been designated as a high-growth area by both Moody's and Fitch Ratings and has seen an influx of new residents due to its strong economy and job opportunities.

While there are some benefits to having a high home price index such as increased equity and stability during economic downturns, there are also some potential risks associated with high home prices. For example, if interest rates rise then borrowers may be unable to afford their mortgages when compared to those who live in areas with lower home prices. Additionally, if there is a sudden decrease in demand for housing then prices could fall significantly (although they have tended not to do so over long periods). While it's important to keep these risks in mind when assessing whether or not it's worth buying a home in a given area, it's also important to remember that no single factor can predict future trends in home values