02842, Middletown, RI

Home Equity and Home Prices in the 2842 Zip Code of Middletown, RI

The 2842 zip code of Middletown, RI is a densely populated area with a median household income of $76,000. The average home value in this zip code is $225,000. This high home value is due to the presence of many affluent families and affluent professionals who live in this area. The average home equity for residents in the 2842 zip code is $141,000. This high level of equity indicates that most homeowners in this area are able to maintain their homes without having to rely on outside sources of income.

The average home price appreciation rate for the 2842 zip code from 2010-2016 was 10%. This indicates that over the past five years, the average homeowner's home value has increased by 10%. While there may be some fluctuations from year-to-year due to market conditions and other factors, over the long term homeownership rates and home values tend to rise moderately in most areas across America.