04925, Caratunk, ME

The 4925 zip code of Caratunk, ME is located in the northwest corner of the state and has a population of just over 1,000. The median household income in this zip code is just over $60,000, and the median home value is just under $200,000. This makes the 4925 zip code one of the more expensive areas in Maine, and it also has one of the highest home equity values in the state.

One reason for this high home equity value is that there are a lot of wealthy people living in this area. The 4925 zip code has a higher than average percentage of households with incomes over $200,000 (27%), and it also has a higher than average percentage of households with incomes over $500,000 (10%). These high levels of wealth are likely contributing to the high home equity values in this area.

Another factor contributing to the high home equity values in this area is that there are a lot of homes here that were built between 1990 and 1999. These homes typically have a lot more value than newer homes because they are older and have fewer repairs needed. Additionally, many people who live in these older homes have decided to keep them rather than sell them and move into newer homes. This means that there is an abundance of housing stock available for sale here, which drives up prices.

Overall, it seems clear that there are several factors driving up the home equity values in this area: high income levels, an abundance of housing stock available for sale, and old construction dates. It will be interesting to see how long these trends continue as more new homes are built in Caratunk and other areas around Maine.