04605, Ellsworth, ME

The 4605 zip code of Ellsworth, ME has a median home value of $137,500 and a median home equity value of $101,000. These values are significantly lower than the statewide median home value of $269,900 and statewide median home equity value of $142,600. The 4605 zip code also has a significantly lower homeownership rate than the statewide homeownership rate of 68%.

One possible explanation for these low home values is that the 4605 zip code is located in a rural area. Rural areas tend to have lower home values due to fewer opportunities for buyers to purchase homes and more opportunities for sellers to sell homes at a higher price. Additionally, rural areas often have less access to financing options, which can make it difficult for buyers to purchase homes.

Despite these factors, there are still some homeowners in the 4605 zip code who are able to purchase homes at or near their desired price range. This suggests that there may be other factors influencing the low home values in this area. For example, it could be that there is not enough demand for homes in the 4605 zip code or that there are too many restrictions on housing development in this area.