02584, 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 other areas in Massachusetts. In fact, the 2584 zip code has the third highest home equity value in Massachusetts, behind only the 02201 and 02242 zip codes.

There are several reasons why home prices on Nantucket are so high. First, there is a limited supply of homes on the island which has led to increased demand from buyers and investors. Second, many homes on Nantucket are owned by wealthy individuals or families who can afford to pay high prices for property. Finally, Nantucket is an affluent area with a high level of income earners which means that there is a lot of money available to spend on housing.

Despite these factors, it's important to keep in mind that home prices on Nantucket aren't immune to market fluctuations. If there is a sudden increase in interest rates or if another area with more affordable housing becomes available, then prices on Nantucket may decline over time.