36346, Jack, AL

The 36346 zip code of Jack, AL is located in the southeastern corner of Alabama. The zip code has a population of just over 10,000 and an average household income of just over $50,000. Home values in the 36346 zip code have increased significantly in recent years, with the median home value increasing by almost 60% between 2012 and 2016. This rapid growth has led to significant concerns about the long-term stability of home prices in the 36346 zip code.

One reason for concern about the long-term stability of home prices in the 36346 zip code is that there is a relatively low level of homeownership in this area. Just over 50% of households in this zip code are owner-occupied, which is below the national average of 62%. This lack of homeownership may lead to increased demand for homes and higher home values, but it may also make it more difficult for residents to sell their homes if they want to move or if their house becomes too expensive.

Another potential source of instability for home prices in the 36346 zip code is demographic change. The population here is aging rapidly, with nearly one-third (31%)of households age 65 or older. This rapid aging could lead to a decline in housing demand and lower home values as retirees move out of town or into smaller homes that are not as valuable on the market. Alternatively, it could lead to an increase in demand for retirement housing and higher home values as baby boomers start moving into retirement communities.

Overall, while there are some concerns about long-term stability for home prices in the 36346 zip code, overall growth has been very strong over recent years and appears to be continuing at a pace that would support continued high levels of house value inflation. While vigilance is warranted regarding potential sources of instability, at present there does not appear to be any major threat to price appreciation within this area