07446, Ramsey, NJ

The home equity and home prices in the 7446 zip code of Ramsey, NJ are very high. The median home value in this zip code is $527,000, which is more than triple the national median home value of $177,500. The average home value in this zip code has also increased significantly over the past few years. In 2013, the average home value was $405,000. In 2016, the average home value had increased to $519,000. This trend is likely to continue as more and more people are looking to buy or invest in homes in Ramsey.

One reason for this high demand for homes in Ramsey is that this area has a low unemployment rate. According to data from the Bureau of Labor Statistics (BLS), the unemployment rate in Ramsey was 3% as of May 2017. This is much lower than the national unemployment rate of 4%. Additionally, many people who live in Ramsey are employed within high-paying industries such as technology and healthcare. As a result, they are able to afford higher-priced homes than those who live in areas with a higher unemployment rate or less desirable jobs.

Another reason why homes in Ramsey are so expensive is that there is a limited supply of housing available for sale or rent here. This means that buyers have plenty of choice when it comes to which homes they can purchase or rent. Additionally, many people who live in Ramsey own their own homes outright rather than renting them out which also contributes to high prices for properties here.

Overall, it seems clear that there is strong demand for homes in the 7446 zip code of Ramsey and that prices will continue to increase over time unless there are significant changes made to current market conditions