71454, Montgomery, LA

The Montgomery, LA zip code 71454 has a population of about 107,000 people and a median household income of $48,000. The home equity in this zip code is estimated to be around $269 million. The home prices in the Montgomery, LA zip code are estimated to be around $291,000.

There are several factors that contribute to the high home equity in the Montgomery, LA zip code. First, the median household income is high compared to other areas of Louisiana. Second, there is a large number of affluent residents in this zip code who can afford to buy homes at high prices. Third, the availability of affordable housing options in this area is limited, which drives up prices for homes that are available. Fourth, there is a low rate of foreclosure activity in this zip code which keeps prices high and helps keep homeownership rates high. Fifth, strong job growth over the past few years has led to an increase in wages and salaries which have helped families save money and invest their money into homes instead of other investments. Sixth, low interest rates have made it easier for people to borrow money and purchase homes at high prices. Seventh, zoning laws in this area allow for more luxury homes than would be allowed in other areas of Louisiana which contributes to increased home values. Eighth, strong economic growth over the past few years has led to an increase in demand for housing which has driven up prices even further. Finally, strong consumer confidence has helped drive up demand for housing by encouraging more people to buy homes as investments rather than live within their means