70643, Grand Chenier, LA

The Grand Chenier zip code 70643 has a population of just over 9,000 people. The median household income in this zip code is just over $60,000 and the median home value is just under $200,000. This means that the home equity in this area is quite high.

One reason for this high home equity is likely the low unemployment rate in this area. The unemployment rate in Grand Chenier was only 2.8% as of May 2017, which is much lower than the national average of 3.9%. This low unemployment rate likely contributes to the high home equity in this area because it means that there are more potential buyers than there are available homes for sale.

Another factor that may contribute to the high home equity in Grand Chenier is the relatively low number of homes for sale compared to other areas of Louisiana. As of May 2017, there were only 1,711 homes for sale in Grand Chenier compared to 5,527 homes for sale in Baton Rouge and 10,868 homes for sale in New Orleans. This means that there are a lot more potential buyers than available homes on the market, which leads to higher home values.