70507, Lafayette, LA

The 70507 zip code of Lafayette, LA is home to a population of around 60,000 people. The median household income in this zip code is $51,500, and the median home value is $137,000. Home equity in this zip code has been growing steadily over the past few years, reaching an all-time high of $187,000 in 2016. This growth can be attributed to several factors:

1) The increasing popularity of Lafayette as a college town: More and more people are moving to Lafayette because of its excellent schools and low cost of living. This influx of new residents has led to an increase in demand for housing and property values.

2) Low interest rates: Since the 2008 financial crisis, interest rates have been relatively low throughout the United States. This has made it easier for people to borrow money to purchase homes or invest in home equity loans.

3) Rising wages: Over the past few years, wages have been increasing faster than inflation rates. As a result, more people are able to afford homes without having to take on large amounts of debt.