05843, Hardwick, VT

The 5843 zip code of Hardwick, VT has a median home value of $183,500 and a median home equity of $146,000. This is higher than the Vermont median home value of $157,800 and the national median home equity of $142,600. The 5843 zip code also has a lower than average homeownership rate at just 54%. This is due in part to the high percentage of single family homes in this zip code.

One reason that the 5843 zip code has a higher than average home equity is that there are more homes with mortgages worth more than their sale price. In Hardwick, VT there are 2.5 times as many homes with mortgages worth more than their sale price as there are homes with no mortgage at all. This means that homeowners have more money available to them to use for other purposes such as buying a new car or paying down debt.

Another factor contributing to the high home equity in this zip code is the low homeownership rate. Many people who live in this area do not own their homes outright but rather have mortgages on them which give them some degree of ownership over their property even if they can't live in it full time. This gives residents a sense of security and stability in an uncertain economy, something that may be harder to come by elsewhere in Vermont or nationwide.