36323, Elba, AL

The 36323 zip code of Elba, AL is located in the southeastern corner of Alabama. The zip code has a population of just over 10,000 people and an average household size of 2.5 people. The median household income in the zip code is just over $50,000, which is significantly higher than the statewide median income of just over $34,000.

Despite having a high median income and a relatively small population, the 36323 zip code has a high home equity rate. In fact, according to Zillow’s 2018 Home Equity Index report, the home equity rate in this zip code is almost twice as high as the statewide average home equity rate of $128,500. This high home equity rate may be attributable to several factors:

1) The relatively affluent population in this zip code may be more likely to have access to ample credit resources that can be used to purchase homes or invest in home improvement projects;

2) The availability of affordable housing within close proximity to major metropolitan areas may make it easier for residents here to buy or refinance homes;

3) Low interest rates may also contribute to the high home equity rates in this area because borrowers are able to pay off their loans more quickly than they would if they were paying higher interest rates on their mortgages.