35761, New Market, AL

The 35761 zip code of New Market, Alabama is located in the southeastern part of the state and includes a population of around 9,000 people. The median home value in this zip code is $151,000 which is about average for the state of Alabama. The percentage of homes that are owner-occupied is around 68%, which is lower than the statewide average of 71%. However, this percentage has been increasing over time and it was at its lowest point in 2006 at 64%.

One reason that home values have increased in this zip code over time may be due to the fact that there are a number of new homes being built in this area. In addition, there are also a number of families who have been able to refinance their homes and obtain higher interest rates which has helped to increase their home equity. Another factor that may have contributed to the increase in home values is the low unemployment rate which has made it more difficult for people to find jobs elsewhere and move.

Despite these positive factors, there are also some challenges facing homeowners in this area. One issue that has come up recently is the fact that interest rates have been rising rapidly and many people who were able to get high interest rates on their mortgages now find themselves with higher payments than they were expecting. Additionally, although prices have increased overall over the past few years, they haven't necessarily increased equally across all parts of town. In some areas where new development has taken place, prices have gone up significantly while others haven't seen as much change.