39145, Pelahatchie, MS

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. In Pelahatchie, MS, home equity averaged $134,000 in 2017. This means that homeowners in this zip code had more than enough money left over after paying their mortgages and other associated costs to buy or improve other properties.

The average home price in Pelahatchie was $122,500 in 2017. This means that homeownership rates were high in this zip code, with nearly two-thirds of households owning their homes outright or with a mortgage that was less than 80% of the value of the property. The low interest rates available during the recent housing market recovery likely played a role in boosting home values and homeownership rates in Pelahatchie.

While there are some risks associated with owning a home – such as potential loss of value if interest rates rise or if the economy weakens – overall, homeownership is considered to be an important part of the American Dream. In Pelahatchie, MS, it seems that many residents are content to enjoy this dream – even as prices continue to rise across much of the country.