71302, Alexandria, LA

The 71302 zip code of Alexandria, LA is located in the southeastern portion of the state and includes a population of over 103,000 people. The median household income in this zip code is $101,853 and the median home value is $269,900. Home equity in this zip code has increased by over 20% since 2007 and home prices have increased by over 10%. This increase in home values has led to an increase in home equity loans and a decrease in mortgage rates.

There are many factors that have contributed to the increase in home values and home equity in the 71302 zip code of Alexandria, LA. One reason for this increase is that there are a high number of families who own their homes outright or who have mortgages that are below market value. Additionally, there is a high demand for housing due to the growth of businesses and jobs within this area. The combination of these factors has led to an increase in home values and home equity loans.

Another factor that has contributed to the increase in home values and home equity loans within the 71302 zip code of Alexandria, LA is low interest rates. Since 2007, mortgage rates have decreased from around 6% to 3%. This decrease has made it more affordable for families to purchase homes outright or take out mortgages that are below market value. Additionally, low interest rates have encouraged people to borrow money against their homes as an investment rather than use it for housing expenses. This trend has lead to an increase inhome equity loans as well as overall borrowing levels within the economy.

Despite these positive trends, there are some challenges facing homeowners within the 71302 zip code of Alexandria, LA when it comes to increasing theirhome equity or purchasing a new house. One challenge is that there may be limited inventory availableof homes that meet family needsand desireswithin this area. Additionally, rising prices can make buying a house more expensivethan it was beforethe market crashin 2008/2009 . Despite these challenges , homeownerswithin this areaare continuingto investin theirhome Equityand purchase new houses at record levels