01940, Lynnfield, MA

In 1940, the zip code of Lynnfield had a median home value of $22,000. This was significantly lower than the median home value of $269,000 in 2016. However, Lynnfield's home equity was much higher in 1940 than it is today. In 1940, the median home equity in Lynnfield was $8,000. This is more than double the median home equity of $3,500 in 2016. The reason for this discrepancy is likely due to inflation and other factors over the course of 70 years.

Despite having a lower median home value in 1940, Lynnfield's homeownership rate was much higher than it is today. In 1940, the homeownership rate in Lynnfield was 68%. This is significantly higher than the homeownership rate of 33% that we see today. One possible explanation for this difference is that during World War II there were many restrictions on purchasing homes and buying power overall decreased for many Americans. After World War II ended and these restrictions were lifted, more people were able to purchase homes and achieve homeownership rates similar to those seen today.