42167, Tompkinsville, KY

The 42167 zip code of Tompkinsville, KY is located in the southeastern corner of the state. The zip code has a population of just over 10,000 and covers an area of just over 2 square miles. Home prices in this zip code have increased significantly in recent years, with median home values reaching $130,000 as of 2016. This increase has been driven by a number of factors, including strong demand from buyers and limited supply of homes available for sale.

Home equity is one important factor that affects home prices. Home equity is the difference between the value of a homeowner's property and what they owe on their mortgage or loan. In most cases, homeowners use their home equity to pay down their debt or to invest in other assets. Homeowners who have high levels of home equity are more likely to be able to afford to buy a house or apartment that they want, and are also more likely to be able to stay in their homes for longer periods of time if they need to.

Another factor that affects home prices is interest rates. Interest rates are important because they determine how much money homeowners will have to pay on their mortgages each month. When interest rates are high, it becomes more expensive for homeowners to borrow money from banks or other lenders, which can lead to lower housing prices because fewer homes can be sold at higher prices. Conversely, when interest rates are low, it becomes cheaper for homeowners to borrow money and this can lead to higher housing prices because more homes can be sold at higher prices.

Overall, there are many factors that affect home prices – including interest rates, demand from buyers and availability of homes – so it is difficult to predict exactly how these will change over time. However, based on current trends and data collected by Zillow®, we believe that home values in the 42167 zip code will continue increasing in the future