70122, New Orleans, LA

The 70122 zip code of New Orleans, LA has a population of about 610,000 people. The median home value in this zip code is $194,100 and the median home equity value is $130,700. This means that the majority of homes in this zip code are valued at around 70% or more of their original purchase price.

This high level of home equity stability is likely due to the fact that New Orleans has been hit particularly hard by Hurricane Katrina. Many homeowners in this area were forced to evacuate their homes and lose all their belongings in the storm. As a result, many homeowners have decided not to sell their homes for a long time after the hurricane because they are confident that they will be able to get back into them eventually. In addition, many people who did sell their homes after Katrina were able to do so at prices much higher than average because there was such a shortage of housing stock available in the area.

Overall, it appears that home equity and home prices in 70122 are very stable and likely won't experience any dramatic changes over the next few years. This is great news for homeowners who want to stay invested in their property over time and avoid having to take on large amounts of debt when buying a new house or apartment.