02860, Pawtucket, RI

The 2860 zip code of Pawtucket, Rhode Island has a population of around 54,000 people. The median household income in this zip code is $51,000 which is lower than the national median household income of $59,000. The homeownership rate in this zip code is just over 62%, which is higher than the national homeownership rate of 59%. The average home value in this zip code is $146,500 which is higher than the national average home value of $127,200.

One reason that the home values in this zip code are so high is that there are a lot of wealthy people living in this area. There are also a lot of families who have been living here for many years and their homes are worth a lot more than new homes. Another reason why the home values are high in this area is because there are not many new homes being built here. So when someone wants to buy a house they have to compete with other buyers who already have bids on the houses they want to buy.

One downside to high home values in Pawtucket is that it can be difficult for people who do not own their homes to get mortgages or borrow money against them. This can make it difficult for these people to buy or rent a house. Another downside to high home values is that if someone does lose their job or their income decreases they may not be able to afford their mortgage or rent payments anymore and may have to sell their house at a loss.