37327, Dunlap, TN

There is no one answer to the question of whether home equity or home prices are more important to a person's financial well-being. For some people, the value of their home is a key part of their overall net worth. For others, the price of homes may not be as important as other factors such as income and debt levels.

In general, Dunlap residents have seen both home equity and home prices rise over the past several years. As of September 2017, the median value of a Dunlap home was $137,000. This is up from $128,000 in September 2016 and $115,000 in September 2015. Meanwhile, the average monthly mortgage payment for a Dunlap homeowner was $1,898 in September 2017. This was down from $2,095 in September 2016 but up from $1,711 in September 2015.

It's important to keep in mind that these numbers don't necessarily reflect everyone living in Dunlap or across Tennessee as a whole. They're based on data collected by Zillow and represent only those homes for which there is enough information available to calculate an average monthly mortgage payment (which excludes properties with negative equity). Additionally, while it's likely that homeownership rates are higher than they were five or ten years ago (due to increasing affordability), it's also possible that more people are buying homes outright instead of relying on mortgages.