01104, Springfield, MA

The 1104 zip code of Springfield, MA has a median home value of $151,000 and a median home equity of $118,000. This means that approximately 57% of homes in this zip code are worth more than their original purchase price, while 43% are worth more than their home equity. These numbers are relatively stable over the past five years; however, they have seen a significant increase since 2007.

One reason for this increase may be the increasing demand for housing in Springfield. The city's population has grown by about 10%, and many new residents are likely seeking homes in desirable neighborhoods. In addition, the local economy is doing well; as a result, people may be able to afford to buy homes even if they don't have much money saved up.

Despite these positive trends, there are still some concerns about the stability of home prices in Springfield. For one thing, there is always the potential for economic downturns that could cause prices to decline. Additionally, interest rates have been on the rise recently which could make it harder for people to afford mortgages or pay off their existing debt. As long as these factors remain relatively stable however, homeowners in Springfield should continue to enjoy strong values on their homes