07621, Bergenfield, NJ

The 7621 zip code of Bergenfield, NJ has a median home value of $269,000 and a median home equity value of $128,000. The homeowners in this zip code have an average credit score of 740 and an average debt-to-income ratio of 36%. This indicates that most homeowners in this zip code are able to afford their homes without resorting to heavy borrowing.

The reason that the homeowners in this zip code are able to afford their homes is likely due to the strong economy and low unemployment rates in Bergenfield. Over the past few years, the local economy has been expanding at a healthy rate, which has led to increased job opportunities and higher wages. As a result, more people are able to qualify for mortgages and borrow against their homes equity.

Another factor that may be contributing to the high home values in this zip code is the limited supply of homes available for sale. In recent years, there has been an increase in demand for housing due to rising prices and strong economic growth. As a result, many potential home buyers are choosing to wait until there is more inventory available before making a purchase. This means that the homes that do become available tend to be more expensive than those which come on the market frequently.