71220, Bastrop, LA

The Bastrop, Louisiana zip code 71220 has a population of around 30,000 people. The median household income in the Bastrop area is $50,000 per year, which is lower than the national median household income of $53,046. The unemployment rate in the Bastrop area is about 8%, which is lower than the national unemployment rate of 9%.

The housing market in the Bastrop area has been slow to recover from the Great Recession. In January 2016, there were only 2 homes for sale in the Bastrop zip code. In December 2015 there were only 1 homes for sale and in January 2014 there were only 3 homes for sale. This indicates that home prices have not recovered as quickly as other parts of Louisiana or the United States. However, over time it seems that home prices have started to rebound and are now above their pre-recession levels.

One factor that may be contributing to slower sales activity in the Bastrop area is that many homeowners who lost their homes during the recession are still unable to sell them due to low home equity values. Home equity refers to the value of a homeowner's home minus all outstanding mortgages and other liens on that property. For many homeowners who lost their homes during the recession, their home equity was reduced significantly due to high levels of mortgage debt and foreclosure proceedings. As a result, these homeowners are currently unable or unwilling to sell their homes at market value due to low home equity values.

Despite this slow market activity, there are some signs that things may be starting to improve for buyers and sellers in the Bastrop area. For example, according to Zillow's recent report on US housing markets , prices across all 50 states increased from October through December 2016 compared with October through December 2015 . This suggests that although housing markets across America remain relatively sluggish overall , they are starting to recover somewhat from their previous lows . Additionally, according to Realtor Magazine's report on US real estate trends for 2017 , house price growth accelerated nationwide throughout 2017 compared with 2016 . This suggests that although housing markets may still be slow overall , they appear poised for continued growth over coming years .