02894, Wood River Junction, RI

Home Equity and Home Prices in the 2894 Zip Code of Wood River Junction, RI

The 2894 zip code of Wood River Junction, RI has a median home value of $236,000. This is higher than the median home value for the state of Rhode Island, which is $183,500. The zip code also has a higher than average home equity value of $187,000. This means that homeowners in this zip code have more equity in their homes than homeowners in other areas of Rhode Island.

There are several factors that may contribute to the high home equity values in the 2894 zip code. First, Wood River Junction is a affluent area with a high rate of home ownership. Second, there are relatively few foreclosures and short sales in this zip code. Third, the market conditions for housing are generally favorable right now, which may help to keep prices high. Finally, many homeowners here have taken advantage of low interest rates over the past few years to increase their equity holdings in their homes.