08027, Gibbstown, NJ

The 8027 zip code of Gibbstown, NJ has a median home value of $225,000. This is a decrease from the median home value of $258,500 in 2007. The percentage of homes with a mortgage in the 8027 zip code is lower than the national average. The percentage of homes without a mortgage is also lower than the national average. This indicates that Gibbstown residents are more likely to have access to financing for their home purchase than most Americans.

There are several factors that could be contributing to the decrease in home values in Gibbstown over the past few years. One possibility is that there has been an increase in foreclosures and short sales in this area, which could lead to decreased demand for homes and decreased prices. Another possibility is that interest rates have remained low for too long, which has made it more difficult for people to afford mortgages and purchase homes. Finally, there may be some limited supply of housing available due to zoning restrictions or other factors, which could lead to higher prices for specific types of homes or neighborhoods within the area.

Despite these challenges, there are still many homeowners who are able to secure mortgages and purchase homes in Gibbstown. It appears that this community has strong economic fundamentals and will continue to experience modest growth over time despite current market conditions.