08758, Waretown, NJ

The 8758 zip code of Waretown, NJ has a median home value of $239,000 and a median home equity value of $141,000. These values are higher than the national median home value of $177,500 and the national median home equity value of $142,700. The 8758 zip code is also higher than the statewide median home value of $174,900 and the statewide median home equity value of $130,100.

The main drivers of these high values in the 8758 zip code are likely its proximity to New York City and Philadelphia as well as its relatively affluent population. The 8758 zip code has a population density of 2,871 people per square mile which is above the statewide population density average of 1,752 people per square mile but below the national population density average of 3,963 people per square mile. Additionally, this area has a high percentage (50%)of residents who have at least a college degree which contributes to its high incomes and home values.

Despite these factors contributing to high home values in this area, there are some potential risks that could lead to lower prices in the future. One risk is that interest rates could rise over time which would make it more difficult for homeowners to afford their mortgages and potentially lead to decreased demand for homes in this area. Another potential risk is that economic conditions could worsen which would decrease both incomes and house prices in Waretown. However, based on current trends it appears that both risks are relatively low so long as interest rates remain low and there are no major economic disruptions occurring elsewhere in the country.