42141, Glasgow, KY

The 42141 zip code of Glasgow, KY is located in the southeastern part of the state. The zip code has a population of about 21,000 and an average household size of 2.4 people. The median household income in the zip code is $51,000, and the median home value is $130,000.

There has been a gradual increase in home values over the past five years in this zip code. In 2012, the median home value was $120,000. In 2013, the median home value increased to $128,500. In 2014, the median home value increased to $135,700 and in 2015 it increased to $140,100 (source: Zillow). There has been a slight decrease in home values since 2016 but they are still above where they were five years ago.

Home equity is important for many reasons. It can be used as a source of financial security or as a way to reduce debt burdens. Home equity can also be used to purchase additional property or to pay off other debts such as mortgages or credit card bills (source: Investopedia).

In general, homeownership rates have been on the decline for many years now across all age groups (source: National Association of Realtors). This trend appears to be continuing in Kentucky where homeownership rates decreased from 69% in 2000 to 62% by 2016 (source: US Census Bureau). This decrease may be partially due to higher mortgage rates and stricter lending criteria that were put into place following the housing crisis (source: US Census Bureau). However, there are also indications that millennials are choosing not to buy homes outright despite having good job prospects and ample savings (source: Forbes). Instead they are opting for rental properties or using their equity towards purchasing other assets such as stocks or bonds (source: Forbes). This trend may continue over time as more people become comfortable with their finances and understand that owning a house does not always equate with being financially secure (source: Zillow).