07055, Passaic, NJ

Passaic, NJ is located in Essex County and has a population of over 210,000. The median household income in Passaic is $101,856 and the median home value is $269,000. Home equity in Passaic has been on the rise for the past few years and there are many reasons for this.

One reason for the increase in home equity is that there are more people living in Passaic than ever before. This influx of new residents has led to an increase in demand for housing and property prices. Additionally, many people who live in Passaic have taken advantage of the recent upturn in the economy and have bought homes that they may not have been able to afford before.

Another reason why home equity has been on the rise in Passaic is that interest rates have remained low for a long period of time. This has made it easier for people to borrow money to buy homes, as well as to refinance their existing mortgages into more affordable terms. Finally, there is always a risk associated with buying a home – even if you have good credit – so it’s important to remember that not everyone who buys a home will be able to keep it forever.