71419, Converse, LA

The Converse zip code of 71419 has a median home value of $141,500 and a median home equity of $87,000. This is significantly lower than the statewide median home value of $217,500 and statewide median home equity of $130,000. The Converse zip code also has a significantly lower percentage of homes with a mortgage than the statewide percentage of homes with a mortgage at 46%. This indicates that more households in the Converse zip code are able to afford their homes without having to take out a mortgage. Additionally, the percentage of households in the Converse zip code that owe more on their mortgages than their home values is also much lower than the statewide percentage of households that owe more on their mortgages than their home values at 14%. This indicates that many households in the Converse zip code are able to maintain or increase their equity in their homes over time.

The low median home values and high percentages of homeownership in the Converse zip code may be partially due to its relatively low population density. The population density in the Converse zip code is only 2 people per square mile which is much lower than both Louisiana's average population density (12 people per square mile) and nationwide average population density (77 people per square mile). Additionally, there are only 5% fewer single family homes in the Converse zipcode than there are families which may contribute to its high homeownership rate.

Despite its relatively low population density and high homeownership rate, it is important to keep in mind that not all areas within the 71419 zip code have these characteristics. For example, parts of eastern Orleans Parish have a much higher population density (27 people per square mile) and therefore have less homeownership rates (around 50%). Additionally, parts of eastern Orleans Parish have seen an influx of families over recent years which may lead to increased demand for housing and increased prices for properties within those areas.