08701, Lakewood, NJ

The 8701 zip code of Lakewood, NJ has a median home value of $269,900 and a median home equity value of $128,700. These values are significantly higher than the statewide median home value of $179,800 and the nationwide median home equity value of $141,200.

There are a number of factors that contribute to the high values in the 8701 zip code of Lakewood. First and foremost is the close proximity to New York City which has a large population and demand for housing. Additionally, Lakewood is located in an affluent area with plenty of jobs and opportunities. Finally, there is strong demand for homes in this zip code due to its excellent schools and amenities.

Despite these positive factors, there are some challenges facing homeowners in the 8701 zip code. One issue is that prices have been increasing faster than wages over the past few years which makes it harder for people to afford homes on their own. Additionally, there is limited inventory available which means that it can take longer for people to find a suitable home and buy it outright.