71270, Ruston, LA

The Ruston, Louisiana zip code 71270 has a population of about 54,000 people. The median household income in this zip code is $41,500, and the median home value is $143,000. This means that the home equity in this zip code is quite high.

One reason for this high home equity may be the low rate of unemployment in Ruston. The unemployment rate in Ruston was only 3.5% as of May 2017, which is much lower than the national average of 4.1%. This low unemployment rate may lead to more people being able to afford to buy homes and increase their home equity values.

Another reason for the high home equity in the Ruston, Louisiana zip code 71270 may be the low interest rates currently available on mortgages. As of May 2017, the interest rates on mortgages were at historic lows – 3.25% for a 30-year fixed-rate mortgage and 2.85% for a 15-year fixed-rate mortgage. These low interest rates may make it easier for people to afford homes and increase their home equity values.