07008, Carteret, NJ

The 7008 zip code of Carteret, NJ has a median home value of $191,000 and a median home equity value of $119,000. These values are above the national median home value of $177,500 and the national median home equity value of $102,500. The 7008 zip code also has a higher than average percentage of homeowners with a mortgage at 73%. This is higher than the national mortgage rate of 66% and the statewide average mortgage rate of 63%.

There are many factors that contribute to the high values in the 7008 zip code. One reason is that Carteret is an affluent area. The population in this zip code is mostly white collar workers with an income above the national average. They tend to buy homes that are larger and have more features than most people in other areas. Another reason for the high values is that there is limited inventory available in this area. When there are few homes available for sale, prices go up because there is competition among buyers.