01834, Groveland, MA

The 1834 zip code of Groveland, MA, includes a population of just over 1,000 people. The median household income in this zip code is $50,000, and the median home value is $175,000. These figures are significantly higher than the national median household income and home value figures, which are $53,657 and $197,500 respectively. This indicates that the residents of Groveland are relatively wealthy compared to the rest of the United States.

One reason for this wealth may be the high home equity values in this zip code. The average home equity value in Groveland is $116,667 – more than double the national average of $50,000. This high level of equity may be due to a number of factors: excellent housing stock (many homes were built in the early 20th century), low levels of unemployment and poverty (the unemployment rate in Groveland was just 2% as of 2016), and strong economic growth over recent years.

Another factor contributing to high home equity values in Groveland is the fact that many homeowners have taken advantage of low interest rates over recent years. As a result, homeowners have been able to borrow against their homes’ value and increase their net worth substantially. In fact, according to Zillow data , nearly half (47%)of all homes in Groveland are owned by someone who has taken out a mortgage or loan on their property – considerably higher than the national average percentage of 30%. This suggests that homeownership rates in this zip code are high enough that borrowers can afford to take on significant debt obligations without too much risk involved.

Overall then, it appears that there are several factors working together to make homeownership rates and home equity values particularly high in 1834 zip code of Groveland – factors such as strong economic growth and low levels of unemployment/poverty combined with access to low interest loans from banks or other lenders. While these conditions may not last indefinitely (unemployment rates have been rising recently), they do provide residents with an opportunity to build substantial wealth over time through prudent investment decisions related to their homes