04684, Surry, ME

The 4684 zip code of Surry, ME is located in the eastern part of the state and has a population of about 2,000. The median household income in this zip code is $60,000 and the median home value is $165,000. Home equity in this zip code has increased by about 20% over the past five years and prices have increased by about 10%.

There are several factors that have contributed to the increase in home equity and prices in this zip code. First, there is a high demand for housing due to an influx of new residents and businesses moving into the area. Second, there has been an increase in home values due to strong economic growth over the past few years. Third, low interest rates have made it more affordable for people to borrow money to buy homes. Fourth, Surry is located in a desirable area with plenty of amenities such as good schools and access to transportation. Fifth, many homeowners have taken advantage of low interest rates by refinancing their homes multiple times over the past few years.

Despite these positive trends, there are some challenges that could affect home equity and prices in this zip code over time. For example, if there were a recession or housing market crash, it could lead to a decrease in home values and reduced access to credit for homeowners who have already taken out loans on their homes. Additionally, if interest rates rose significantly from their current levels (which is possible given current economic conditions), it would make it more expensive for people to borrow money to purchase homes or refinance their mortgages.