10002, New York, NY

The 10002 zip code of New York, NY has a median home value of $251,000 and a median home equity value of $141,000. This is higher than the national median home value of $177,500 and the state median home equity value of $130,000. The zip code also has a high percentage of homeowners (84%) and a low percentage of renters (14%).

There are many factors that contribute to the high home values in the 10002 zip code. The area is affluent and has a high concentration of wealthy residents. Additionally, there is strong demand for housing due to the high population density and proximity to major metropolitan areas. Finally, the area has been relatively stable over the past few years, which has helped to keep prices elevated.

Despite these positive factors, there are some challenges facing homeowners in the 10002 zip code. One issue is that interest rates have been low for much of this decade, which has made it difficult for people to get loans for larger purchases such as homes. Another challenge is that there are limited options for buying or selling homes in this area due to its high concentration of wealth. As a result, prices can be difficult to change even if conditions change in the market.