71272, Ruston, LA

The Ruston zip code 71272 has a population of around 36,000 people. The median household income in this zip code is $59,000, and the median home value is $148,500. This means that the home equity in this zip code is quite high. In fact, according to Zillow’s 2018 Home Value Report, the home equity in Ruston is second only to New Orleans among U.S. cities with a population of over 100,000 people.

One reason for this high level of home equity may be the low levels of unemployment and poverty in Ruston. According to the U.S. Census Bureau’s 2017 American Community Survey (ACS), only 2% of residents in Ruston are unemployed and only 4% are living below the poverty line. These low levels of unemployment and poverty may help explain why so many residents have access to a large amount of home equity – they can use that equity to buy a house or invest it in other assets that will provide them with long-term financial security.

Another factor that may contribute to the high level of home equity in Ruston is the city’s strong economy – as measured by GDP per capita (GDPPC). According to Zillow’s 2018 Home Value Report, GDPPC in Ruston is well above average for cities with a population over 100,000 people: $53,700 compared to an average GDPPC of $45,600 nationwide. This strong economy may help residents save money on their mortgages or use their home equity to purchase larger homes than they might otherwise be able to afford – increasing their overall level of home equity even further.

Overall then, it appears that there are several factors contributing to the high level of home equity in Ruston – low levels of unemployment and poverty combined with a strong economy mean that many residents have access to a lot of money which they can use either towards buying a house or investing it elsewhere for long-term security