02038, Franklin, MA

The 2038 zip code of Franklin, MA includes a population of approximately 36,000 people. The median household income in this zip code is $130,000, and the median home value is $415,000. In terms of home equity and home prices, the 2038 zip code of Franklin is one of the most expensive in Massachusetts.

As of September 2018, the median home value in the 2038 zip code was $415,000. This means that the average homeowner in this zip code has equity in their home worth approximately $257,500. Additionally, as of September 2018 the average home value in this zip code was 9% higher than it was at its peak in 2007 ($390,400). This indicates that homeowners have seen an overall increase in their home values over the past eight years.

When looking at specific neighborhoods within the 2038 zip code of Franklin, it is clear that there are a variety of prices and levels of equity available. For example, neighborhoods such as West Roxbury and Roslindale have average home values that are much lower than those found near downtown Franklin (e.g., around Dudley Square). However, even within these lower-priced neighborhoods there are homeowners who have significant equity in their homes (e.g., around Dudley Square). Conversely, some neighborhoods located near downtown Franklin (e.g., North Quincy) have high average home values but few homeowners with significant equity (i.e., less than 5%).

Overall then, while there may be some areas within the 2038 zip code where homeowners do not have significant equity in their homes (i.e., less than 5%), on average homeowners across this area have more than enough equity to cover any potential financial challenges they may face (i.e., a mortgage payment plus typical expenses such as property taxes and insurance).