70764, Plaquemine, LA

The 70764 zip code of Plaquemine, LA is located in the southeastern corner of the state and includes a population of approximately 25,000. The median household income in this area is $41,000 and the median home value is $130,000. Home equity has been on the rise in recent years as prices have increased faster than wages. In fact, according to Zillow’s 2018 report on U.S. home values, the average home value in Plaquemine has increased by 9% over the past year alone!

There are a number of reasons why home equity has been increasing so rapidly in this area. For one thing, there is a large demand for housing due to an influx of new residents and businesses moving into the area. Additionally, many homeowners have taken advantage of low interest rates to refinance their mortgages and increase their home equity holdings. Finally, many people who live in Plaquemine are able to afford homes that are larger than what is typically available elsewhere in Louisiana due to high incomes and low levels of unemployment.

Despite these positive trends, there are some risks associated with having high levels of home equity. If interest rates rise or if the market crashes (as has happened before), homeowners could find themselves struggling to pay off their debts or lose all their money invested in their homes. Additionally, if someone needs to sell their house quickly because they are moving or retiring, they may not be able to get as much money for it as they would if it were more affordable.