40816, Chappell, KY

The 40816 zip code of Chappell, KY has a median home value of $137,000. This is significantly higher than the national median home value of $123,500. The 40816 zip code also has a high percentage of homeowners with equity in their homes, at 87%. This is significantly higher than the national homeownership rate of 63%.

One reason for this high level of equity may be the low number of foreclosure filings in the 40816 zip code. In fact, only 2% of homes in this zip code are currently in foreclosure. This is much lower than the national foreclosure rate of 5%. Additionally, Chappell residents have been able to keep their homes for an average length of time (of 7 years), which is above the national average (of 6 years).

There are several factors that could contribute to the high level of equity in homes in the 40816 zip code. These include strong economic conditions and low levels of unemployment. Additionally, Chappell residents may be more likely to have access to affordable credit due to its strong economy. These factors could help explain why so many homeowners in this zip code have equity in their homes.