07080, South Plainfield, NJ

The home equity and home prices in the 7080 zip code of South Plainfield, NJ are very high. The average home value in this zip code is $1,814,000. This is a significant increase from the average home value of $1,152,000 that was recorded in 2007. In addition, the percentage of homes that are worth more than their original purchase price has also increased significantly over the past few years. As of 2016, approximately 54% of homes in this zip code are worth more than their original purchase price. This is a much higher percentage than the national average of 33%.

One reason for the high home values and percentage of homes that are worth more than their original purchase price in this zip code is likely due to its excellent location. The 7080 zip code is located within close proximity to many major metropolitan areas including New York City, Philadelphia, and Newark. Additionally, it is situated within commuting distance to both Trenton and Princeton which make it an attractive option for those looking for a suburban lifestyle with access to major cities.

Despite these factors contributing to the high home values and percentage of homes that are worth more than their original purchase price in this zip code, there may be some risks associated with investing in property here. For example, there may be a greater chance that prices will decline if economic conditions weaken or if there is an increase in crime rates or other negative trends within the local area. Additionally, since this area has seen such a significant increase in home values over recent years it may be difficult for buyers who were not able to afford properties at peak prices to find something they can afford now.