08241, Port Republic, NJ

The 8241 zip code of Port Republic, NJ has a median home value of $191,000 and a median home equity value of $119,000. The average mortgage in this zip code is $145,000. This means that the average homeowner in this zip code has over $100,000 in equity in their home.

This high level of equity is likely due to the strong economy and low unemployment rate in this area. Additionally, Port Republic is located within close proximity to both Philadelphia and New York City which are two major economic hubs. As a result, there is a high demand for housing here and prices have been steadily increasing over the past few years.

There are some caveats to these findings though. First, while the median home value is above the national average, it’s still below what it was several years ago. Second, while homeownership rates are high in this area (over 80%), there is an increasing trend of people renting instead of buying homes. This may be due to concerns about the economy or lack of available housing stock (due to redevelopment projects). Either way, it’s something that residents will need to keep an eye on as prices continue to rise in this area.