37221, Nashville, TN

Home Equity and Home Prices in the 37221 Zip Code of Nashville, TN

The 37221 zip code of Nashville, TN has a median home value of $183,000. This is higher than the national median home value of $157,500. The zip code also has a lower than average home equity percentage of 58%. This means that there are more homes with negative equity (less than the value of the property) than homes with positive equity (more than the value of the property).

The average price per square foot for homes in this zip code is $92 which is above the national average price per square foot of $79. The number of homes sold in this zip code during 2018 was 2,851 which is below the national average sales volume for 2018.

There are several factors that could contribute to why there are more homes with negative equity in this zip code than homes with positive equity. Some possible reasons include: high levels of unemployment or underemployment in certain neighborhoods; low incomes; high levels of debt; and difficulty obtaining a mortgage due to poor credit ratings or other factors.

Despite these challenges, there are still many homeowners who are able to successfully purchase and maintain their homes over time. If you're thinking about buying or selling a home in the 37221 zip code, it's important to consult with an experienced real estate agent who can help you understand all your options and make sure you're getting an accurate estimate for your property's worth.