07701, Red Bank, NJ

Red Bank, NJ is located in Monmouth County and has a population of approximately 21,000. The median household income in Red Bank is $105,000, which is significantly higher than the national median of $53,046. The median home value in Red Bank is $1.2 million, which is also significantly higher than the national median of $217,500.

The 7701 zip code has a high home equity and home prices relative to other zip codes in the United States. In 2017, the average home value in the 7701 zip code was $1.2 million, which was more than double the average home value of $0.7 million nationwide. Additionally, the 7701 zip code had a homeownership rate of 87%, which was much higher than the homeownership rate of 63% nationwide. These high values are likely due to several factors including: a high median household income; a low percentage of households that are renters; and a low percentage of households that are owner-occupied (compared to other U.S. zip codes).

Despite these high values, there are some potential risks associated with owning a home in the 7701 zip code. For example, there is a greater risk of experiencing property damage or theft if you own a home in this area compared to other areas across America (due to its high crime rates). Additionally, if you are not able to make your mortgage payments on time or if your house falls into foreclosure proceedings, your home equity could be lost completely. However, overall it appears that homeownership and home equity in the 7701 zip code are highly valued and provide many benefits for those who invest in them wisely