01821, Billerica, MA

The 1821 zip code of Billerica, MA includes a population of around 21,000 people. The median household income in this zip code is $101,000, which is significantly higher than the national median household income of $59,000. Additionally, the homeownership rate in this zip code is 68%, which is significantly higher than the national homeownership rate of 63%. This indicates that there are a significant number of households in this zip code that own their homes outright.

One factor that may contribute to the high homeownership rate in this zip code is the low level of home equity debt. According to Zillow’s 2018 Home Equity Debt Report, the average home equity debt in this zip code is only $79,500. This low level of home equity debt may be attributable to the fact that many households in this zip code have sizable down payments on their homes. Additionally, many households in this zip code have been able to maintain their homes for multiple decades without having to take out any additional loans or refinancing their mortgages. This indicates that these households are confident in their ability to repay their debts and are not overly reliant on access to credit products.

Despite the high homeownership rate and low level of home equity debt in this zip code, there are still some areas where housing prices are more expensive than average. For example, housing prices within 10 miles of downtown Boston are approximately 8% more expensive than average. Similarly, housing prices within 25 miles of Boston are approximately 12% more expensive than average. These areas may be desirable for some buyers due to their proximity to major metropolitan areas but may be prohibitively expensive for others who do not have a large budget available for housing expenses.