10466, Bronx, NY

The 10466 zip code of Bronx, NY has a population of over 1.5 million people and is home to many affluent neighborhoods. Home equity in this area has been on the rise for the past several years, as prices have increased faster than wages. In 2016, the median home value in this zip code was $291,000, up from $269,000 in 2015 and $242,000 in 2014. The average home value in this area has also increased significantly over the past few years; it was $288,500 in 2016 compared to $248,500 in 2014.

While there are many factors that contribute to home values and home equity growth rates (e.g., interest rates), one important factor is the availability of mortgages. Since 2006 (the earliest year for which data is available), mortgage lending standards have tightened considerably across all regions of the country. This has made it more difficult for borrowers to obtain mortgages with good credit scores and low down payments; instead they must rely on loans with higher interest rates and smaller down payments. As a result of these tighter lending standards, homeownership rates have declined nationwide (although they have remained relatively high in some areas), which has contributed to increased demand for homes that are less affordable but still within reach for most buyers.

In addition to increasing demand from buyers who can afford more expensive homes, rising prices also attract investors who are looking for an opportunity to make money by buying property and then reselling it at a higher price later on. In some cases these investors may not even live in the neighborhood where they purchased their properties; they may simply use them as investments that generate income through rent or sale proceeds long-term. While this type of investment activity can be beneficial overall (e.g., by increasing housing stock and making neighborhoods more vibrant), it can also lead to displacement of longtime residents who may not be able to afford higher prices or find another place to live after their homes are sold off-market."