37412, Chattanooga, TN

The 37412 zip code of Chattanooga, TN has a median home value of $128,000 and a median home equity value of $120,000. The average home size in this zip code is 2 bedrooms and 1 bathroom. This zip code has a population of about 51,000 people.

There are a number of factors that can affect the home equity and home prices in any given area. In Chattanooga, TN, the main drivers of home equity and home prices are: 1) the level of economic activity in the area; 2) interest rates; 3) local market conditions; 4) availability of housing stock; 5) demographics (e.g., age distribution, race/ethnicity).

Generally speaking, when there is more economic activity in an area (e.g., more jobs), then the level of homes for sale will increase and so will the price of those homes. Likewise, when interest rates are lower than they typically are (i.e., when there is low inflation), then homeownership rates will be higher and so too will the prices for homes that are owned by homeowners. Local market conditions (e.g., demand for housing relative to available supply) also play a role in determining both home equity values and home prices – if there is strong demand for housing within an area but limited availability due to zoning restrictions or other factors then prices may rise faster than they would otherwise because more people want to buy into that market segment than there are available units to purchase. Finally, demographics (e.g., age distribution, race/ethnicity) can also have an impact on both the level of homes for sale as well as on how quickly those homes sell – older households tend to own more expensive homes than do younger households and certain racial/ethnic groups may have greater access to credit which can lead to higher Home Equity Values even if house prices themselves don’t rise as much as might be expected due to increased demand from buyers within that demographic group alone).