07202, Elizabeth, NJ

The home equity and home prices in the 7202 zip code of Elizabeth, NJ are very high. The median home value in this zip code is $429,000, which is more than double the national median home value of $178,500. Additionally, the percentage of homes in this zip code that are worth more than $500,000 is significantly higher than the national average of just over 30%. This indicates that there are a lot of wealthy residents in this area.

One reason for the high home values in this zip code may be its proximity to New York City. Many wealthy people living in Elizabeth likely commute to work each day by way of the subway system. Additionally, many affluent people also own vacation homes or second homes located near major cities such as New York City. As a result, demand for properties in this area has been strong and prices have increased accordingly.

Despite the high prices, there are still some affordable properties available in this zip code. The average price per square foot for homes here is just over $100 which is below the national average of $123 per square foot. This indicates that there are a number of good quality properties available at reasonable prices if you're looking to buy a home here.