08620, Trenton, NJ

The Trenton zip code of 8620 has a population of approximately 129,000 people and a median household income of $60,000. The average home value in this zip code is $174,100, which is significantly higher than the national average of $157,600. This high home value may be due to the presence of several prestigious universities in the area, as well as its proximity to major metropolitan areas such as New York City and Philadelphia. Additionally, Trenton is one of the most affordable cities in New Jersey with an annual cost of living index (ACLI) score of 84.5.

Despite the high home values in this zip code, there has been a recent trend towards decreasing home equity values. Between 2007 and 2016, the median home equity value decreased by 11%, which may be indicative of a general trend across all U.S. markets towards decreasing home values. Despite this decrease in equity values over time, homeownership rates remain relatively high at 82%. This indicates that many residents are still comfortable owning their homes despite seeing their equity decrease over time.

Overall, it appears that homeownership rates are stable despite a decrease in home equity values and that most residents are comfortable owning their homes even though their equity decreases over time