07014, Clifton, NJ

The Clifton, NJ zip code 7014 has a population of approximately 36,000 people. The median household income in this zip code is $101,000 and the median home value is $429,000. The average home equity in this zip code is $183,600.

There are a number of factors that contribute to the high home equity values in the Clifton, NJ zip code. One reason is that the area has a high concentration of affluent residents who are able to afford to buy homes at high prices. Additionally, Clifton is located in an affluent region of New Jersey that has a strong economy. This means that there are plenty of jobs available and people can afford to buy homes even if they don't have a lot of money saved up.

Another factor contributing to the high home equity values in the Clifton, NJ zip code is the fact that many homeowners have taken out mortgages on their homes. This means that they are able to borrow a large amount of money from lenders and use this money to purchase their homes outright rather than rent them or lease them for an extended period of time. In most cases, homeowners are able to pay off their mortgages within 10-15 years which helps contribute to the high home equity values in this area.