10308, Staten Island, NY

Staten Island is a borough of New York City located in the southernmost section of the city. The 10308 zip code, which covers Staten Island, has a population of just over one million people. Home equity and home prices are important factors to consider when analyzing the economy and housing market in this area.

According to Zillow, the median home value in the 10308 zip code is $269,000. This is well below the citywide median home value of $423,500 but still represents a healthy increase from five years ago when the median home value was just $215,000. In addition, while there has been some volatility in recent months due to market conditions outside of Staten Island (e.g., nationwide housing market slowdown), overall home values have remained relatively stable over the past year or so.

Interestingly enough, despite having such a low median home value compared to other parts of New York City (and indeed much of America), Staten Island has consistently been one of the most affordable boroughs for homeownership over time. According to Zillow’s Cost-of-Living Index*, which compares various costs associated with living in different cities across America, Staten Island ranks as #8 out of 100 among U.S. counties for affordability – meaning that it is relatively affordable for residents to buy a house there without spending too much money out-of-pocket on expenses like groceries or rent each month*. This ranking is largely due to low housing costs relative to incomes (especially compared to Manhattan) and strong job growth prospects on Staten Island over recent years*.

Overall then, while there are some challenges facing homeownership on Staten Island – namely high housing costs relative to incomes – overall conditions appear positive and suggest that buying a house on this island may still be an achievable goal for many people looking into purchasing property here.