37353, McDonald, TN

The 37353 zip code of McDonald, TN has a median home value of $101,000. The home equity in this zip code is $40,000. This means that the majority of homeowners in this zip code have more than $40,000 in equity in their homes. Additionally, the average home price growth for this zip code from 2016 to 2017 was 5%. This indicates that there is strong demand for homes in this area and that prices are likely to continue to rise.

Homeownership rates in the 37353 zip code are high compared to other areas of the country. In 2017, 79% of households were owner-occupied, which is above the national average of 63%. Additionally, the percentage of households with a mortgage was lower than the national average at 44%. These factors indicate that homeownership rates and mortgage availability are both favorable in this area.

The high homeownership rate and low percentage of mortgages suggests that people who live in the 37353 zip code are confident about their ability to afford a home and have enough money saved up to buy one. This confidence may be due to low interest rates or because McDonald is an affluent area with a stable economy. Either way, it is likely that buyers will be able to find properties they want in this area even if they don't have perfect credit scores or don't have all their money saved up already.