07628, Dumont, NJ

The 7628 zip code of Dumont, NJ has a median home value of $269,000 and a median home equity of $146,000. This is significantly higher than the statewide median home value of $172,500 and the national median home equity of $142,200. The Dumont area has seen strong growth in both home values and home equity over the past few years.

One reason for this growth is that the Dumont area is located in one of the most affluent counties in New Jersey. As a result, there are plenty of homes available for sale and many buyers are able to get mortgages with low interest rates. Additionally, Dumont is located close to major cities such as Newark and Trenton which makes it easy for people to get to work and shopping.

Despite these positive factors, there are some risks associated with buying a home in the 7628 zip code. One risk is that prices may continue to rise faster than inflation over the long term which could lead to significant financial losses for buyers. Another risk is that interest rates could rise which would make it more difficult for buyers to afford their homes or pay off their mortgages.