04257, Mexico, ME

The 4257 zip code of Mexico, ME is located in the eastern part of the state and includes a mix of rural and suburban areas. The median home value in this zip code was $128,000 in 2016, which is lower than the statewide median home value of $165,000. However, this zip code has a higher concentration of homes valued at over $200,000 than the statewide average.

Home equity is an important factor for homeownership and can be used to finance other investments or pay down debt. Home equity values have been increasing over time as more people have taken advantage of low interest rates to borrow against their homes. In 2016, approximately one-third (34%) of households in this zip code had home equity worth more than their mortgage balance. This compares with 27% statewide and 24% nationwide.

There are several factors that can influence home prices including local market conditions, interest rates, availability of housing stock, and government regulations. While there are some variations across different parts of the country, overall prices tend to rise faster in areas with more demand and decrease faster in areas with less demand. Over the past few years there has been an increase in demand for housing near major metropolitan areas such as Boston and Portland while there has been a decrease in demand for housing near smaller towns or rural areas. This trend may continue as baby boomers reach retirement age and begin looking for places to retire.