07020, Edgewater, NJ

Edgewater, NJ is located in Bergen County and has a population of approximately 27,000. The home equity and home prices in the 7020 zip code are reflective of the overall market conditions in Edgewater.

The average home value in Edgewater is $1,350,000. This represents a 7% increase from the previous year. The average mortgage debt for homes in this zip code is $527,500. This indicates that homeownership rates are relatively high compared to other areas of the country.

Homeownership rates have been on the rise for several years now and it appears that this trend will continue into the future. There are several reasons why homeownership rates are increasing in Edgewater: low interest rates, increased demand for housing due to an influx of new residents, and strong economic conditions.

Low interest rates have made it more affordable for people to buy homes and pay off their mortgages. Additionally, increased demand for housing has led to higher prices and more available options for buyers. Finally, strong economic conditions have encouraged people to invest money into buying homes rather than taking out loans elsewhere.