71201, Monroe, LA

The Monroe, LA zip code 71201 has a population of around 118,000 people. The median household income in this zip code is $41,500 which is lower than the Louisiana median household income of $51,046. The home equity and home prices in this zip code are both below the Louisiana average.

The home equity and home prices in the Monroe, LA zip code are both below the Louisiana average. According to Zillow’s Home Value Index for ZIP Codes across the United States as of September 2018, the median home value in this zip code is $127,200 which is lower than the Louisiana median home value of $157,600. Additionally, according to Trulia’s Home Values report for ZIP Codes within Louisiana as of January 2019, the average home value in this zip code is $128,000 which is also lower than the statewide average of $167,500. This indicates that there are a lot of homes in this zip code that are worth less than what typical homes within Louisiana are worth.

One possible explanation for why there are so many homes in this Monroe, LA zip code that are worth less than what typical homes within Louisiana are worth could be because there is a high concentration of low-income households living in this area. According to data from NeighborhoodScout’s analysis of Federal Housing Finance Agency (FHFA) data as of December 2018*, around 38% of households living in this Monroe, LA zipcode earn less than 50%of their respective state’s median household income. This means that a large number of homeowners who live in this area may not have enough money saved up to buy a house outright or may not be able to afford to make any significant repairs or upgrades to their current house. This could lead to a lot of homeowners being unable to sell their houses at market value and instead having to accept offers that are significantly below what their houses are actually worth.