37686, Piney Flats, TN

The 37686 zip code of Piney Flats, TN has a median home value of $128,000 and a median home equity value of $92,000. These values are higher than the Tennessee statewide median home value of $123,200 and the national median home equity value of $142,600. The reason for this discrepancy is likely due to the high concentration of wealthy families in this zip code. In addition, there is a large number of homes that were built before 1978 which have not yet been replaced by newer homes. This means that there are more older homes available for sale which can drive up prices.

Despite these high values, homeownership rates in the 37686 zip code are relatively low at just over 60%. This is likely because many people in this area are able to afford to buy a home but choose not to do so because they believe that their home equity will be worth more in the future. In addition, many people who live in this zip code commute to work outside of it which means that they do not have much time or need for their primary residence to be located within its boundaries.