06070, Simsbury, CT

The 6070 zip code of Simsbury, CT has a median home value of $269,000 and a median home equity of $146,000. This is significantly higher than the national median home value of $177,500 and the national median home equity of $142,700. The 6070 zip code also has a significantly higher percentage of homes with a mortgage than the national average (46% vs. 31%).

One possible explanation for this high level of homeownership and home equity in the 6070 zip code is that Simsbury is a affluent town with a high level of income and wealth inequality. In 2013, the per capita income in the 6070 zip code was $101,868, which is well above the national average ($57,617). Additionally, there are relatively few low-income households in Simsbury (10% vs. 17%), which may contribute to its high level of homeownership and equity.

Another possible explanation for the high levels of homeownership and home equity in the 6070 zip code is that Simsbury has been able to maintain strong housing prices over time. Since 1990, house prices have increased by an average of 7.2%, which is much faster than house prices nationwide (3.5%). This strong housing market may be due in part to Simsbury's strong economy – according to Forbes magazine, it ranks as one of Connecticut's top 10 fastest-growing towns – as well as its limited supply of homes for sale compared to other areas in Connecticut.