35983, Leesburg, AL

The 35983 zip code of Leesburg, AL has a median home value of $119,000. The home equity in this zip code is $41,000. This means that the majority of homeowners in this zip code have more equity in their homes than they need to cover their monthly mortgage payments. Additionally, the average home price in this zip code has increased by 5% over the past year. This suggests that there is strong demand for housing in this area and that prices will continue to rise.

Homeownership rates in the 35983 zip code are high compared to most other areas of Alabama. In fact, nearly two-thirds (64%) of households in this zipcode are owner-occupied, which is much higher than the statewide average of 53%. This indicates that many people who live in Leesburg are comfortable owning their homes and are not looking to rent or sell soon.

The reason why homeownership rates are high in Leesburg may be because there is a strong demand for housing here. The average home price has increased by 5% over the past year, which indicates that there is strong demand for housing stock in this area. Additionally, many people who live here may be comfortable owning their homes because they have enough equity built up to cover their monthly mortgage payments without having to worry about losing their homes if they were to lose their jobs or experience some other financial hardship.