01451, Harvard, MA

The 1451 zip code of Harvard, MA has a median home value of $1,868,000. The home equity in this zip code is $1,711,000. This means that the homeowners in this zip code have a net worth of $417,000 more than their mortgage debt. The average home price in this zip code has increased by 9% since 2007.

There are many factors that contribute to the increase in home prices in this zip code. Some of these factors include an influx of new residents due to Harvard University's growth and expansion, as well as an increase in the number of luxury homes being built within the area. Additionally, the local economy has been strong over the past few years and there has been little inflationary pressure on prices.

Despite these positive trends, there are some potential risks that could affect home prices in this area over time. For example, if there is a sudden decrease in demand for housing within this zip code or if there is another economic recession that causes people to lose their jobs and reduce their income levels significantly. In either case, it is likely thathome values would decline relatively quickly and homeowners would find themselves with a smaller net worth than they had before.