07079, South Orange, NJ

The 7079 zip code of South Orange, NJ has a median home value of $269,000 and a median home equity value of $119,000. This is higher than the statewide median home value of $179,500 and the national median home equity value of $146,200. The 7079 zip code also has a lower than average percentage of homeowners with negative equity (less than 20% of homes have less than 20% equity) at only 5%. This is lower than the statewide percentage of homeowners with negative equity (10%) and the national percentage (13%).

There are several factors that may contribute to the high home values in the 7079 zip code. First, South Orange is an affluent area with a high concentration of wealthy residents. Second, there is a strong demand for housing in this area due to its excellent schools and amenities. Third, there are relatively few homes for sale in this zip code which may lead to higher prices. Finally, there is limited competition for homes in this area which may lead to increased prices.