35616, Cherokee, AL

The 35616 zip code of Cherokee, AL is located in the southeastern corner of the state and includes a population of approximately 16,000. The median household income in this zip code is $48,000, which is lower than the statewide median household income of $53,046. The unemployment rate in this zip code is 5.5%, which is higher than the statewide unemployment rate of 4.9%.

The average home value in this zip code is $128,500, which is lower than the statewide average home value of $157,700. The percentage of homes that are owner-occupied in this zip code is 68%, which is lower than the statewide percentage of owner-occupied homes at 73%. The percentage of homes that are renter-occupied in this zip code is 32%, which is higher than the statewide percentage of renter-occupied homes at 27%.

There are a number of factors that could contribute to why home values are lower in the 35616 zip code compared to other areas within Alabama. One potential reason could be that there are fewer jobs available within this area compared to other parts of the state. Additionally, many homeowners may be underwater on their mortgages and have difficulty selling their homes due to low prices.