37863, Pigeon Forge, TN

The 37863 zip code of Pigeon Forge, TN is located in Sevier County and has a population of approximately 21,000. The median household income in this zip code is $59,000 and the median home value is $269,900. Home equity in this zip code has increased by over 50% since 2007 and home prices have increased by over 25%.

There are many factors that contribute to the increase in home equity and home prices in the 37863 zip code of Pigeon Forge, TN. One reason is that the area has experienced strong economic growth over the past few years. Jobs are plentiful and wages are rising, which means that people can afford to buy homes more easily. Additionally, there is a high demand for housing due to the popularity of Pigeon Forge as a tourist destination. People who live in this zip code can also benefit from low interest rates and low mortgage rates, which make it easier for them to purchase a home.

Despite these positive trends, there are some risks associated with buying a home in the 37863 zip code of Pigeon Forge, TN. One risk is that interest rates could rise later on down the road and make it more difficult for people to afford their homes. Another risk is that the market could become saturated or too expensive, causing prices to decline. In order to minimize these risks, homeowners should carefully consider their financial goals and needs before making any purchases or refinancing their mortgages.