38463, Iron City, TN

The 38463 zip code of Iron City, TN is located in the southeastern corner of the state and has a population of just over 10,000. The median household income in this zip code is just over $40,000 and the median home value is just under $130,000. Home equity in this zip code has been growing at a rate of around 6% annually for the past several years and there are currently around 1,700 homes available for sale in this area. This high level of home equity indicates that there are many people who are able to borrow against their homes to finance other investments or to take out loans for larger purchases.

The growth in home equity has been driven by a number of factors. First, Iron City has seen strong job growth over the past few years which has led to an increase in disposable income. Second, interest rates have remained relatively low throughout this period which makes it easier for people to borrow money against their homes. Finally, there is a large number of families who have been able to refinance their mortgages in recent years which has increased their home equity even further. While there are some risks associated with high levels of home equity (such as potential problems with debt repayment if the market takes a downturn), overall it appears that Iron City residents are very comfortable with their current levels of home equity.