40403, Berea, KY

Berea, KY is located in the 40403 zip code. The 40403 zip code has a population of approximately 10,000 people. Berea, KY is a small town that was founded in 1818. Berea is known for its horse farms and agriculture. The economy of Berea is based on agriculture and horse breeding.

The home equity and home prices in the 40403 zip code are very high compared to other areas of the country. In fact, the median home value in the 40403 zip code is $269,900 which is more than double the national median home value of $130,000. The average home equity in the 40403 zip code is $183,500 which is also much higher than the national average of $130,000. Additionally, there are a lot of homes for sale in the 40403 zip code which indicates that there are a lot of people who want to live in this area.

One reason why the home equity and home prices are so high in the 40403 zip code is because there are a lot of wealthy people living here. Berea has a large number of millionaires and billionaires living here which means that there are a lot of people who can afford to buy homes at high prices. Additionally, many businesses located in Berea are owned by wealthy individuals which also contributes to high home values and equity levels in this area.

Despite these factors, it's important to keep in mind that not everyone living in Berea can afford to buy homes at these high prices. There are also a lot of low-income families living here which means that they may not be able to afford to buy homes even if they wanted to. This situation creates tension between rich residents and low-income residents because rich residents often benefit from increased property values while low-income residents may struggle financially as a result