70118, New Orleans, LA

The 70118 zip code of New Orleans, LA has a population of over 1 million people. The median home value in this zip code is $191,000, and the median home equity is $128,000. This means that the majority of homes in this zip code are worth more than their original purchase price. Additionally, the average home value growth rate in this zip code is 2.5%, which is above the national average growth rate of 2%.

There are many reasons why homes in the 70118 zip code are worth more than their original purchase price. First and foremost, New Orleans has been one of the most popular cities to live in for decades now, and as a result there is an abundance of available housing stock. Additionally, many homeowners have taken advantage of low interest rates over the past few years to refinance their mortgages and increase their home equity values. Finally, New Orleans has seen strong economic growth over the past few years which has led to increased demand for housing stock and increased prices for all types of property.