04002, Alfred, ME

Home Equity and Home Prices in the 4002 Zip Code of Alfred, ME

The home equity and home prices in the 4002 zip code of Alfred, ME are very high. The median home value in this zip code is $269,000, which is more than triple the national median home value of $116,000. Additionally, the percentage of homes that are worth more than their original purchase price is also high in this zip code. For example, 54% of homes in this zip code are worth more than their original purchase price. This is much higher than the national average of 33%.

One reason for this high level of home equity and home prices may be due to the abundance of expensive homes available in this zip code. There are a total of 906 homes available for sale in this zip code, which is more than any other zip code in Maine. Additionally, there are a total of 2,812 households living in this zipcode. Therefore, there is a lot of demand for housing here.

Another reason for the high level of home equity and home prices may be due to the low unemployment rate in Alfred, ME. The unemployment rate here was 3% as of May 2017, which is lower than both the national average unemployment rate (4%) and Maine’s average unemployment rate (4%). This low unemployment rate may lead to increased demand for housing because people who want to live here can afford to do so without having to worry about finding a job soon.