07201, Elizabeth, NJ

The home equity and home prices in the 7201 zip code of Elizabeth, NJ are very high. The median home value in this zip code is $1,049,000 and the median home equity is $297,000. This makes this zip code one of the most expensive in New Jersey. In addition, the average sale price for homes in this zip code has increased by over 20% since 2007. This indicates that there is a lot of demand for homes in this area and that people are willing to pay a high price for them.

One reason why the home values in this zip code are so high is because there is a lot of demand for homes here. There are many affluent people living in this area and they want to buy homes that they can afford. Additionally, there are a lot of new development projects being built in this area which will increase the number of homes available for sale. Over time, these developments will lower the prices of existing homes and create even more demand for them.

Another reason why the home values in this zip code are so high is because there is a lot of supply limited housing available here. There are not many new houses being built in Elizabeth so all of the available housing has already been snapped up by affluent people or developers who want to build new houses here. This means that if you want to buy a house here you need to be prepared to pay a high price tag – even if you can find an affordable house on the market!