07462, Vernon, NJ

The 7462 zip code of Vernon, NJ has a median home value of $128,000 and a median home equity of $101,000. This is lower than the statewide median home value of $173,500 and the national median home equity of $141,700. The percentage of homes in this zip code that are owner-occupied is lower than both the statewide percentage of owner-occupied homes at 66%, and the national percentage of owner-occupied homes at 63%. The percentage of homes in this zip code that are renter-occupied is also lower than both the statewide percentage of renter-occupied homes at 33%, and the national percentage of renter-occupied homes at 37%.

There are a number factors that could contribute to these low home values in this zip code. One possibility is that there are fewer homeowners in this area who can afford to buy or upgrade their homes. Another possibility is that there are more renters living in this area who cannot afford to buy or upgrade their homes. Either way, it seems likely that there would be more expensive properties available if these homeowners or renters could afford to purchase or upgrade them.