36301, Dothan, AL

The 36301 zip code of Dothan, AL is located in the southeastern part of the state and has a population of around 106,000. The median household income in this zip code is $40,000 and the median home value is $130,000. The 36301 zip code has a high rate of home equity ownership, with almost two-thirds (64%) of households owning their homes outright. This high rate of home equity ownership is likely due to the low rate of homeownership in Alabama as a whole. Additionally, the 36301 zip code has a relatively low unemployment rate (4%), which may contribute to the high rate of home equity ownership.

Despite these factors, there are some indications that the high rate of home equity ownership in the 36301 zip code may be beginning to decline. For example, according to Zillow’s recent report on U.S. housing market trends, the percentage of homeownership in Dothan has decreased by 1% over the past year and by 3% over the past two years. Additionally, while mortgage rates have remained relatively stable over this time period, interest rates on HELOCs (home equity lines of credit) have increased by about 10%. These changes suggest that more people are now borrowing against their homes instead of owning them outright or using their homes as collateral for a loan. If this trend continues, it could lead to a decrease in home equity values in the 36301 zip code over time.