38929, Gore Springs, MS

Home Equity and Home Prices in the 38929 Zip Code of Gore Springs, MS

There is no doubt that home equity and home prices are important considerations for any homeowner. In Gore Springs, MS, the average home value is $128,000. This means that homeowners in this zip code have a significant amount of equity in their homes. Additionally, Gore Springs has a median home price of $129,900 which indicates that there is a fair amount of demand for homes in this area.

Given these factors, it is not surprising that homeownership rates in the 38929 zip code are high. As of 2016, the homeownership rate was 83%. This means that nearly all households in this zip code are owner-occupied. Additionally, the average mortgage debt per household in this zip code is $106,000 which indicates that most households have ample resources to cover any potential financial setbacks related to their homes.

While there are many benefits to owning a home in Gore Springs, it is important to remember that there are also risks associated with owning a home. For example, if you lose your job or experience other financial setbacks then you may find it difficult to repay your mortgage debt. Therefore, it is important to do your research before making any decisions about buying or selling a home in the 38929 zip code.