70131, New Orleans, LA

The 70131 zip code of New Orleans, LA is home to a high concentration of homeowners with equity in their homes. The median home value in this zip code is $141,200, which is significantly higher than the national median home value of $123,700. In addition, the percentage of homeowners with equity in their homes is also higher than the national percentage of 66%. This indicates that many residents in this zip code are very confident in the long-term stability and value of their homes.

One reason for this high level of confidence may be due to the strong economy and low unemployment rate in New Orleans. Additionally, there has been an increase in home prices over the past few years, which may indicate that residents believe that prices will continue to rise. However, even if prices do decline over time, most homeowners would still have significant equity in their homes because mortgages typically only require a down payment as small as 3% or 4%.

Overall, it appears that residents in 70131 are very confident about the long-term stability and value of their homes. This confidence may be contributing to increased home values and homeowner equity over time.