37861, Rutledge, TN

Home Equity and Home Prices in the 37861 Zip Code of Rutledge, TN

When people think of home equity, they may think of their own home. However, home equity can also refer to the value of a person's home minus any outstanding mortgage or other debt on that property. In the 37861 zip code of Rutledge, TN, the average home value is $137,000. This means that homeowners in this area have a total equity in their homes worth an estimated $127,000.

While homeownership rates have been on the decline for many years now in America as a whole, they are still high in Rutledge. According to Zillow data from 2018, 68% of households in this zip code are owner-occupied vs 31% which are renter-occupied. This indicates that there is strong demand for homes here and that buyers who are looking for properties within this area should be confident that they will be able to find something they like.

The average price per square foot for homes within this zip code is $123 which is above the national average but not by too much. Additionally, according to Trulia data from January 2019, the median list price for homes within this zip code is $129K which is also slightly above the national median list price of $127K.

Overall then it seems that homeownership rates and prices are both high in Rutledge and there appears to be strong demand from buyers as well as limited supply which should lead to continued appreciation over time for those who invest in property here.