08882, South River, NJ

The 8882 zip code of South River, NJ has a median home value of $253,000 and a median home equity value of $151,000. The zip code has a population of about 9,500 people and an average commute time of 25 minutes.

According to Zillow’s Home Value Index report for September 2018, the median home value in the 8882 zip code increased by 2.4% from September 2017 to September 2018. This is the fourth consecutive month that the median home value in this zip code has increased. The average increase in home values across all U.S. ZIP codes during this period was 2%.

The increase in home values can be attributed to several factors: increasing demand due to strong economic growth nationwide and increasing interest rates; low inventory levels; and limited supply due to restrictive zoning laws and regulations that limit new construction in some areas of the country. In addition, many homeowners are taking advantage of low interest rates available on mortgages today compared with earlier years.

Home equity is important because it provides homeowners with a cushion against unexpected expenses or declines in their income. Home equity can also be used as collateral for a loan if needed, which can help borrowers get approved for a mortgage that they may not have been able to qualify for otherwise. Home equity is also an important factor when considering whether or not to sell or buy a house – if you have more equity in your house than you need currently, you may be more likely to hold on to it longer rather than selling it and potentially losing money on the sale (assuming prices haven’t increased too much since you last sold).