02744, New Bedford, MA

The 2744 zip code of New Bedford, MA is located in southeastern Massachusetts and includes a population of approximately 103,000. The median home value in this zip code is $183,500, which is significantly higher than the statewide median home value of $146,600. In addition, the 2744 zip code has a homeownership rate of 66%, which is significantly higher than the statewide homeownership rate of 54%.

One reason why the 2744 zip code has such high home values and homeownership rates is because it contains a large number of affluent residents. The majority of residents in this zip code earn over $100,000 per year, and over 60% have at least one college degree. These high incomes are likely contributing factors to the high home values and homeownership rates in this area.

Another factor that contributes to the high home values and homeownership rates in the 2744 zip code are the low levels of unemployment and poverty. In fact, only 2% of residents live below the poverty line, which is much lower than the statewide average poverty rate of 10%. This low level of poverty helps to ensure that there are plenty of potential buyers available for homes in this area.

Overall, it can be said that the 2744 zip code of New Bedford, MA enjoys very high levels of both home equity and home prices. These elevated values are likely due to both its affluent population and low levels of unemployment and poverty.