35031, Blountsville, AL

When people think of home equity, they may think of the value of their home minus any outstanding mortgages or other debts. But what about the value of a home's underlying assets, like the land it sits on and the building itself? In some cases, those assets can be worth more than the house itself.

According to Zillow, Blountsville's 35031 zip code has an average home value of $141,200. That's a bit higher than the Alabama state average of $128,900 but not as high as some other nearby zip codes. For example, in zip code 35223 (Birmingham), Zillow estimates that homes are worth an average of $171,000.

So what's driving this disparity in home values? One big factor is location. Zip codes that are close to major cities or popular tourist destinations tend to have higher values because there is more demand for property there. Additionally, areas with strong economies and low unemployment rates tend to have higher values because people are willing to pay more for a safe investment.

Despite these factors, homeownership remains one of the key factors in determining a home's market value. In Blountsville 35031 zip code, 68% of homes are owner-occupied vs 32% that are rented (Zillow). This means that homeowners have more control over their property and can often get more money for it when they decide to sell or refinance. Plus, homeownership also gives people access to valuable tax breaks and insurance protections unavailable to renters (such as homeowner's insurance).

Overall then, while prices vary from neighborhood to neighborhood and from year-to-year due to many factors outside anyone's control (economic conditions included), homeownership remains one key factor in determining a house's market value and eventual sale price. If you're thinking about buying or selling in Blountsville 35031 zip code – or anywhere else in Alabama – keep this fact in mind!