37380, South Pittsburg, TN

The 37380 zip code of South Pittsburg, TN has a population of approximately 10,000 people. The median household income in this zip code is $41,500, and the median home value is $128,000. Home equity in this zip code is high relative to the rest of the United States. In fact, according to Zillow’s 2018 Home Value Index report, the home equity in this zip code is 5.5 times greater than the national average. This high level of home equity may be attributable to several factors:

1) The low rate of homeownership in this zip code – only 36% of households are owner-occupied as opposed to the national average of 63%. This low rate may be due to a number of factors including higher costs associated with owning a home in this zip code (e.g., property taxes and maintenance), lower incomes relative to other parts of the country, and lack of access to affordable credit.

2) The high level of education attainment in this zip code – nearly half (46%)of households have at least one college graduate living within them. This high level of education attainment may lead many residents to believe that they can afford to buy a home even if they do not have enough money saved up for down payment or mortgage payments.

3) The presence of large corporations – several large corporations are located within or near the 37380 zip code including FedEx Corporation, AT&T Inc., and Nissan North America Inc.. These companies may be responsible for increasing demand for housing within this area, which has led to increased prices and levels of home equity.