06063, Barkhamsted, CT

The 6063 zip code of Barkhamsted, CT has a median home value of $215,000 and a median home equity value of $143,000. This means that the majority of homes in this zip code are worth more than their original purchase price, but there are also a significant number of homes that are worth less than their original purchase price. The average home value in this zip code has increased by 8% over the past five years.

There is a significant concentration of wealth in the 6063 zip code. The top 10% of households in this zip code have an average home equity value that is more than three times the average home value for all households in this zip code. Additionally, the top 5% of households in this zip code have an average home equity value that is more than six times the average home value for all households in this zipcode. These high levels of wealth inequality are likely due to the high levels of home equity values and homeownership rates in this area.

Despite these high levels of wealth inequality, there is also evidence that many residents in the 6063 zip code are struggling to afford their housing costs. The percentage of households who report having difficulty paying their monthly housing costs is above the national average for both single-family homes and multi-family homes. Additionally, nearly one-third (32%)of all households living in the 6063 zip code report having difficulty paying their monthly housing costs even if they do not have any outstanding debt obligations related to their housing expenses. This indicates that many residents are struggling to meet their basic needs related to housing expenses even though they may have substantial amounts of wealth accumulated within their household portfolio