08318, Elmer, NJ

The 8318 zip code of Elmer, NJ has a median home value of $128,000 and a median home equity value of $87,000. These values are significantly higher than the statewide median home value of $181,500 and statewide median home equity value of $76,100. The 8318 zip code is also significantly higher than the national median home value of $177,600 and national median home equity value of $63,200.

There are several factors that may contribute to the high values in the 8318 zip code. First, Elmer is located in a desirable area with plenty of amenities and access to transportation. Second, the population in the 8318 zip code is highly educated and affluent. Third, homes in this area tend to be newer and have larger lot sizes than other areas in New Jersey. Finally, there is strong demand for housing in this area due to its proximity to major cities like Newark and Trenton.

Despite these positive factors, there are some challenges facing homeowners in the 8318 zip code. One issue is that prices have been increasing faster than wages over the past few years which may make it difficult for some people to afford a house or increase their equity level. Additionally, there has been an increase in foreclosures recently which could lead to decreased values for homes in this area.