38878, Vardaman, MS

The 38878 zip code of Vardaman, MS has a median home value of $101,000. This is significantly lower than the national median home value of $177,500. The 38878 zip code also has a low home equity rate of just 3.4%. This means that there are a lot of homes in this zip code that are worth less than their mortgages.

One reason why the homes in the 38878 zip code are worth less than their mortgages is because there is a high percentage of homeowners in this area who are underwater on their mortgages. That means that they owe more money on their homes than what the homes are actually worth. This situation is especially common in areas where the housing market has been depressed for a long time.

Another reason why the homes in the 38878 zip code are worth less than their mortgages is because there is a high percentage of vacant housing stock in this area. Homes that are vacant for an extended period of time tend to be worth less than homes that are occupied. This is because it takes more effort and money to maintain and update vacant properties than it does to maintain and update occupied properties.