29407, Charleston, SC

The 29407 zip code of Charleston, SC is home to a population of about 158,000 people. The median household income in this zip code is about $60,000, and the median home value is about $225,000. The average mortgage rate in this zip code is about 4.5%, and the average home equity loan rate is about 5%.

There are a lot of factors that affect home prices in any given area, but one of the biggest factors that affects prices in Charleston is the availability of homes for sale. In general, there are more homes for sale in Charleston than there are people who want to buy them. This means that buyers have more competition for homes and can sometimes get better deals on houses than they would if there were more available for sale.

Another big factor that affects home prices in Charleston is interest rates. Interest rates go up or down depending on a lot of different factors, but one big factor that affects interest rates is the economy. When the economy is doing well, interest rates tend to go up because banks are willing to lend money out at higher rates than they would if the economy were weaker. When the economy goes bad, interest rates go down because banks are less willing to lend money out at lower rates than they would if the economy were stronger.

Overall, it's difficult to say exactly how much influence each of these factors has on home prices in Charleston over time – it definitely depends on a lot of different things including what kind of neighborhoods people live in and what kinds of houses are available for sale at any given time. However, overall trends do seem to suggest that availability (of homes for sale), interest rates (which depend on many different factors), and the state of the economy all play an important role in determining how much house price inflation occurs in Charleston over time