10704, Yonkers, NY

The 10704 zip code of Yonkers, NY is located in the Hudson Valley region of New York. The population of this zip code was 102,827 as of the 2010 census. The median household income in this zip code was $86,971 as of 2010.

Home equity is a key component of homeownership in the United States. Home equity is the difference between the market value of a home and its outstanding mortgage balance. As long as a homeowner maintains their home's value above their outstanding mortgage balance, they are considered to be "homeowners" and are entitled to various benefits associated with homeownership such as reduced property taxes and access to homeowner's insurance discounts.

According to Zillow, the median home value in the 10704 zip code was $197,000 as of September 30th, 2016. This represents an increase of 2% over the same period last year and an increase of 5% over the year prior to that. Over the past five years (from 2013-2016), Zillow reports that home values have increased by an average of 8%.

Given these trends, it is safe to say that home equity remains strong in this area and that there is considerable potential for further appreciation in coming years. This has implications for both buyers and sellers alike - while buyers may be able to afford more expensive homes due to their increased equity holdings, sellers may find it harder to sell their homes if they are not able to reach a higher asking price given current market conditions.