06053, New Britain, CT

The 6053 zip code of New Britain, CT has a median home value of $128,000 and a median home equity value of $143,000. These values are significantly higher than the national median home value of $76,500 and median home equity value of $100,000. The high home values in the 6053 zip code may be attributable to several factors including the presence of prestigious universities in the area ( New Britain College and Yale University), strong job market conditions, and low interest rates.

Despite the high home values in the 6053 zip code, homeownership rates are relatively low at just over 50%. This is likely due to the high cost of housing in New Britain as well as competition from other areas with more affordable homes. Additionally, many potential homeowners may be waiting to purchase a house until prices have decreased further or until they can qualify for a mortgage that offers better terms. As long as there is strong demand for homes in the 6053 zip code and prices continue to rise, homeownership rates will likely remain low.