07203, Roselle, NJ

The Roselle, NJ 7203 zip code is located in Bergen County and has a population of around 36,000. Home prices in the Roselle zip code have been on the rise for the past few years, reaching a peak of $471,000 in 2016. The average home price in Roselle today is $362,500.

There are several factors that have contributed to the increase in home prices in Roselle over the past few years. One reason is that there has been an influx of new residents into the area who are looking for affordable housing. Additionally, many homeowners who were able to get their homes refinanced during the housing market boom have seen their equity grow significantly over time. Finally, there is strong demand for homes in Roselle due to its proximity to major cities like New York and Philadelphia as well as excellent schools and recreational opportunities.

While there are some people who benefit from rising home prices (such as homeowners who have increased their equity), others may feel negatively impacted by this trend. For example, low-income families may find it difficult to afford a house even if their home values increase significantly over time due to rising mortgage payments or other costs associated with owning a home. Additionally, people who are not able to qualify for a mortgage because of poor credit or other factors may be unable to purchase a house even if they want to.

Overall, while there are some risks associated with high home prices (such as increased inequality), overall it appears that most residents of the 7203 zip code are benefiting from this trend overall.