37843, Parrottsville, TN

Home Equity and Home Prices in the 37843 Zip Code of Parrottsville, TN

The 37843 zip code of Parrottsville, TN has a median home value of $136,000. This is higher than the Tennessee median home value of $119,500. The average home value in this zip code is also higher than the national average home value of $177,500. This indicates that there are more expensive homes in this zip code than elsewhere in Tennessee. Additionally, the percentage of homes with a mortgage in this zip code is lower than the statewide percentage of mortgages at 53%. This suggests that homeownership rates are high and that there are many people who can afford to buy homes without taking out a loan.

One reason for these high home values and low mortgage rates may be that Parrottsville is a desirable place to live. The city has a population density of only 2 people per square mile which is much lower than the statewide population density of 5 people per square mile. Additionally, Parrottsville has an unemployment rate of only 3% which is much lower than the statewide unemployment rate of 6%. These factors may contribute to high demand for housing in this area and low interest rates on mortgages.