02554, Nantucket, MA

Nantucket is a small island town located in Massachusetts. The population of Nantucket was just over 10,000 as of the 2010 census. Home prices on Nantucket are quite high compared to the rest of Massachusetts. In fact, according to Zillow, the 2554 zip code has the third highest home value in all of Massachusetts.

Home equity is important to many people on Nantucket because it allows them to use their home as a source of financial stability and security. Home equity can also be used for things like paying off debt or investing in property or stocks. The average home value on Nantucket is $1,067,000 which means that homeowners have a lot of equity in their homes.

The high home values on Nantucket may be due in part to the fact that there are very few homes available for sale on the island. According to Zillow, only 2% of homes for sale in 2554 zip code are currently available for purchase which is much lower than the statewide average of 5%. Additionally, many homeowners on Nantucket have been able to keep their homes since they were built more than 20 years ago which has helped increase their value.