35630, Florence, AL

Florence, Alabama is located in the southeastern corner of the state and has a population of just over 30,000 people. The zip code 35630 has a median household income of just over $50,000 and a median home value of just over $150,000. Home equity in this zip code is very high relative to the rest of the state.

There are several factors that contribute to Florence's high home equity. First, Florence is a relatively affluent community with a high median income. Second, there is strong demand for housing in Florence due to its proximity to major cities such as Birmingham and Montgomery. Finally, Florence's homes are generally well-maintained and have low foreclosure rates.

Despite these positive factors, there are some risks associated with having high home equity in Florence. First, if the market for housing in Florence shifts away from luxury homes towards cheaper options (as has happened elsewhere in the country), then homeowners could find themselves struggling to sell their homes at fair prices. Second, if interest rates increase significantly from their current levels (which they are likely to do at some point), then homeowners who have taken out large mortgages on their homes could find themselves facing significant financial difficulties.