07652, Paramus, NJ

The 7652 zip code of Paramus, NJ has a median home value of $269,000 and a median home equity value of $137,000. This is higher than the statewide median home value of $174,500 and the national median home equity value of $141,700. The percentage of homes in the 7652 zip code with a mortgage is lower than the statewide percentage of homes with a mortgage (46%) and the national percentage of homes with a mortgage (57%). The percentage of homes in the 7652 zip code that are owner-occupied is higher than both the statewide percentage (53%) and the national percentage (47%).

There are several factors that may contribute to these high home values in the 7652 zip code. First, Paramus is an affluent suburb located within Bergen County. Second, there is strong demand for housing in this area due to its excellent schools and commute options. Third, many homeowners have taken advantage of low interest rates over recent years to refinance their mortgages or purchase new homes. Fourth, although there has been some recent price growth in this area due to limited supply and increasing demand, it remains below average for suburban areas across North America. Finally, Paramus residents have been very successful at preserving their wealth over time by investing in stocks or other assets rather than taking on additional debt burdens.