01905, Lynn, MA

The 1905 zip code of Lynn, MA is home to a population of approximately 97,000 people. The median home value in this zip code is $128,000, which is significantly higher than the national median home value of $157,500. This high level of home equity has allowed many Lynn residents to take advantage of the current housing market conditions and purchase homes at a significantly lower price than they would have been able to in previous years.

Despite the high level of home equity in this zip code, there are still many residents who are struggling to afford their homes. Approximately 20% of households in this zip code earn less than $25,000 per year, which is significantly lower than the Massachusetts average income of $50,800. This low income level has led many families to rely on their home equity as their only source of financial stability.

Despite the challenges faced by some Lynn residents, the overall housing market conditions are very positive. The average sale price for homes in this zip code has increased by more than 50% since 2007, which indicates that there is strong demand for properties in this area. In addition, there have been very few foreclosures or short sales in this zip code over the past several years, indicating that most homeowners are able to maintain their property values despite challenging economic conditions.