70114, New Orleans, LA

The 70114 zip code of New Orleans, LA has a population of over 343,000 people and a median home value of $151,000. The city has seen an increase in home equity values over the past few years as the local economy continues to improve. In fact, according to Zillow’s Home Value Index for ZIP Codes in Louisiana, 70114 has seen the highest growth rate in home values among all zip codes in Louisiana since 2013.

One reason for this increased demand for homes in 70114 is likely due to the city’s strong economy. According to Moody’s Analytics, New Orleans had one of the fastest-growing economies in the country last year and is projected to have even faster growth this year. Additionally, job opportunities are plentiful in New Orleans thanks to its thriving tourism industry. As a result, many people are moving into the area and buying homes. This increase in demand has led to an increase in home equity values across all price points within 70114.

Another factor contributing to increased home equity values within 70114 is that there are relatively few foreclosures or short sales available on the market right now. This is likely because many people who were impacted by Hurricane Katrina have yet to recover and are looking to buy homes instead of rent them out or sell their homes quickly for cash. As a result, there are fewer properties available for sale at lower prices than there used to be – which means that even if someone does not own their home outright they can still get a good return on their investment by buying it now rather than later.

Overall, it seems clear that increasing demand for homes within 70114 is responsible for driving up home equity values across the area over recent years. While there may be some fluctuations from time-to-time due to economic factors outside of our control (e.g., another hurricane), overall we expecthome equity values will continue growing at a healthy pace in 70114 well into 2020 and beyond!