37398, Winchester, TN

The 37398 zip code of Winchester, TN has a median home value of $145,000 and a median home equity of $101,000. This is significantly lower than the national median home value of $177,500 and the regional median home equity of $126,700. There are a number of factors that may contribute to this discrepancy including:

-The low population density in the zip code

-The relatively recent recession which has impacted homeowners more than renters

-The high levels of foreclosures in the area

Despite these factors, there are still some homeowners in the 37398 zip code who have been able to benefit from rising home prices over the past few years. For example, one homeowner purchased their house for $50,000 in 2006 and now it is worth over $200,000. Similarly, another homeowner purchased their house for just under $100K five years ago and now it is worth over $200K. While these examples show that there are some homeowners who have been able to benefit from rising home prices in Winchester over the past few years, it is important to keep in mind that not everyone has been able to do so. In fact, according to Zillow’s Home Value Index report for ZIP codes across America as of February 2016 (the most recent data available), Winchester ranked #1 out of all ZIP codes in Tennessee with a decrease in average home values (-5%). This indicates that not all homeowners have seen their homes increase in value since 2013/14 when compared to other areas within Tennessee or nationwide.

Overall then, while there are some homeowners who have seen their homes increase significantly in value since 2013/14 due to rising prices across Tennessee or nationwide (as measured by Zillow’s Home Value Index report), there are also many homeowners who have seen their homes decrease in value since then. This discrepancy between those who have benefited from rising prices and those who haven’t can be partially attributed to several factors including:

-Low population density – which makes it harder for buyers and sellers alike to find each other

-Recent recession – which has impacted both buyers and sellers more than renters

-High levels of foreclosures – which make properties more difficult (and sometimes impossible) for people looking to buy or sell a property