10524, Garrison, NY

Home Equity in Garrison, NY

The average home equity in the 10524 zip code of Garrison, NY is $143,000. This is a decrease from the previous year when the average home equity was $158,000. The 10524 zip code has seen a decrease in home equity since 2007 when the average home equity was $183,000.

There are many factors that could be contributing to this decrease in home equity including:

-The economy has been struggling over the past few years and may be affecting homeowners’ ability to sell their homes for a higher value

-Many homeowners have taken out mortgages to purchase their homes and may not be able to refinance if interest rates increase

-Some Garrison residents are moving out of the area or have sold their homes and moved into rental properties which reduces their homeowner’s equity

-There are also a number of Garrison residents who have decided to downsize or move out of their homes altogether and no longer own them.