70543, Iota, LA

The Iota zip code of 70543 has a population of just over 2,000 people. The median household income in the zip code is just under $50,000, and the median home value is just over $130,000. This means that the home equity in the Iota zip code is quite high. In fact, according to Zillow’s Home Value Index, the home equity in the Iota zip code is more than three times as high as the national average.

One reason for this high level of home equity in the Iota zip code may be that there are relatively few homes for sale in this area. According to Trulia’s Market Report for ZIP Codes within 50 miles of Iota, there are only 34 homes for sale in the Iota zip code at present. This means that homeownership rates in this area are quite high – approximately 96% of households here own their homes outright or have a mortgage that does not require a down payment.

Another factor contributing to high levels of home equity in the Iota zip code may be low levels of inflationary pressure. According to The Economist’s Consumer Price Index (CPI), prices nationally have risen by only 2% since January 2017 – well below the rate of inflation experienced during most periods over recent decades. As a result, homeowners who have built up significant levels of home equity may find it difficult to sell their homes even if they want to move – especially if they are not able to find comparable properties nearby that they can afford.