07866, Rockaway, NJ

The 7866 zip code of Rockaway, NJ has a median home value of $191,000 and a median home equity value of $122,000. This is significantly lower than the statewide median home value of $317,500 and the national median home equity value of $217,200.

There are a number of factors that may contribute to the low home values in the 7866 zip code. First, this area has been hit hard by the recession and many homes have been foreclosed on or are in foreclosure status. Second, there is a high concentration of rental units in this zip code which may be contributing to the low home values. Finally, there is a lack of available housing stock in this area which may be keeping prices low.

Despite these challenges, there are some homeowners who have seen their home equity increase over time. In fact, according to Zillow’s Home Value Index (HVI), approximately one-third (32%)of homes in the 7866 zip code have increased in value since 2009 while only about one-fifth (21%)of homes have decreased in value during that same time period. This indicates that there is still potential for homeowners in this area to see significant gains if they stay vigilant with their property maintenance and keep up with market trends.