70508, Lafayette, LA

The Lafayette, LA 70508 zip code has a population of about 106,000 people. The median household income in the zip code is $60,000 and the median home value is $215,000. In terms of home equity, the Lafayette area has a median home equity value of $142,500.

There are a number of factors that contribute to the high home equity values in the Lafayette area. First and foremost is the fact that this area is very affluent. Second is the low rate of foreclosure activity in this area. Finally, there is a strong demand for homes in this zip code because it has excellent schools and access to major highways and shopping malls.

Despite these positive factors, there are some risks associated with owning a home in Lafayette. One risk is that interest rates could rise over time and make it more difficult for homeowners to pay their mortgage bills. Another risk is that prices could decline significantly if economic conditions change adversely in this area or if there are any major developments nearby that reduce demand for homes.