71409, Boyce, LA

The home equity and home prices in the 71409 zip code of Boyce, LA are very high. The median home value in this zip code is $269,000, which is more than double the statewide median home value of $119,000. The average home value in this zip code is also much higher than the statewide average of $157,000. This high level of home values is likely due to the many affluent residents who live in this area.

The high level of home values also means that homeowners in the 71409 zip code have a lot of equity in their homes. Homeowners with a median household income of over $200,000 are typically able to borrow up to 85% of their homes' value without having to worry about getting pre-approved for a mortgage. This means that homeowners can often get mortgages for larger amounts than they would be able to get if their incomes were lower.

Despite the high level of home values and homeowner equity, there has been a recent trend towards decreasing house prices in this area. Between January 2016 and January 2017, house prices decreased by 2%. This decrease may be due to several factors including low interest rates and increased competition from other areas with higher levels of housing affordability.