38914, Big Creek, MS

The 38914 zip code of Big Creek, MS is located in the western part of the state and has a population of about 2,000. The median household income is $40,000 and the median home value is $130,000. Home equity in this zip code is relatively high compared to other areas of Mississippi. In fact, according to Zillow’s 2018 Home Value Index report, the home equity in this zip code is 5% higher than the national average. This suggests that there are a lot of homeowners who are able to use their home equity as a source of financial security.

One reason why home equity in this zip code is high may be due to the low interest rates that are currently available. According to Bankrate’s current interest rate chart, interest rates on mortgages are at historic lows and they have not been this low for many years. This means that homeowners can borrow money against their home equity and pay very low interest rates on their loans. Additionally, because homes in this area are relatively affordable compared to other parts of the country, people may be more likely to buy a home here instead of moving elsewhere if they need to raise money for an emergency expense or if they want to buy a house with less money down payment than they would need elsewhere.

Despite these factors, it's important not to overvalue your home based on its current value alone - there could be a major drop in prices later on if conditions change unexpectedly or if another area becomes more desirable due to changing economic conditions or new development projects. So while it's good news that there is plenty of homeowner equity available in Big Creek right now, it's important not get too comfortable with your situation - always keep an eye out for potential risks that could impact your ability to access your funds should you need them quickly.