40342, Lawrenceburg, KY

When people think of home equity, they typically think of the value of their home minus any outstanding mortgages or other liens. In Lawrenceburg, Kentucky, the average home equity value is $128,000. This means that on average, homeowners in this zip code have more than 12% of the original purchase price remaining on their mortgage or other lien.

While Lawrenceburg homeowners have a healthy level of home equity, it's important to keep in mind that this figure is only an average and can vary greatly from one homeowner to another. Additionally, while the average home equity value is higher than in many other parts of the country, it's not as high as it was a few years ago. The reason for this is that interest rates have been relatively low for a while now and so mortgages are harder to come by. As a result, many homeowners in Lawrenceburg who would have had higher levels of equity back when rates were higher are now starting to see their balances decline due to these low interest rates.

One thing that has helped keep Lawrenceburg homeowners' levels of equity high over the past few years has been the steady increase in prices for homes here. While there are still some areas of town where prices are lower than others (and there always will be), on average homes here cost more than they do elsewhere in Kentucky and across much of the United States. This means that even if someone's mortgage balance declines due to low interest rates or because they're paying off debt faster than their mortgage rate increases (which has happened recently), they're still going to end up with more money overall since their home's market value will continue to go up over time even if their monthly payments stay unchanged.