71067, Princeton, LA

Princeton, LA is located in Jefferson Parish and has a population of approximately 16,000. The median household income in the 71067 zip code is $50,000 and the median home value is $160,000. Home equity in Princeton has been on the rise for the past few years and there are many reasons why this may be the case.

One reason for this increase in home equity may be due to an increase in home prices across Jefferson Parish. In 2017, Princeton had the highest average home price out of all of Jefferson Parish's zip codes with an average price of $269,500. This trend seems to be continuing into 2018 as Princeton's average home price was $273,500 as of January 1st. This increase in prices has led to an increase in homeowners' equity which can be used to pay off debt or invest elsewhere.

Another reason for the rise in home equity may be due to low interest rates across the country. Since 2007, interest rates have been at historic lows which has made it more affordable for people to borrow money against their homes. As a result, more homeowners have been able to take advantage of their homes' values by refinancing their mortgages or using HELOCs (home equity loans). Over time, this increased demand for mortgages will lead to an increase in mortgage lending which will then lead to an increase in home prices.

Overall, it appears that there are several factors contributing towards increased home equity values across Princeton including increasing house prices and low interest rates. While these trends are likely to continue into 2019 and 2020 respectively, it is important for homeowners who are considering refinancing or buying a new property to consult with a mortgage lender so that they can get accurate information about current market conditions