02882, Narragansett, RI

The 2882 zip code of Narragansett, Rhode Island is home to a median home value of $209,000 and a median household income of $85,000. The area has seen an increase in home equity over the past five years, with the median value increasing by 16%. This growth is likely due to the strong economy and low interest rates. In addition, Narragansett is one of the most affluent zip codes in the country, with a per capita income of over $100,000.

Despite this wealth and prosperity, there are some challenges facing homeowners in the 2882 zip code. One issue is that there are not enough homes for sale in the area. This has led to an increase in prices and a shortage of available homes for buyers. Another challenge is that many homeowners are using their home equity to finance other investments or pay off debt. If these borrowers lose their jobs or their incomes decrease, they may find it difficult to repay their loans and lose their homes.

Overall, despite some challenges posed by high home values and tight housing supply, homeowners in the 2882 zip code are enjoying strong economic conditions and rising home equity values.