10805, New Rochelle, NY

The 10805 zip code of New Rochelle, NY has a median home value of $1,280,000. This is significantly higher than the national median home value of $177,500. The 10805 zip code also has a high percentage of homeowners with equity in their homes. In fact, over 60% of households in the 10805 zip code have equity in their homes. This high level of equity is likely due to the strong economy and low interest rates in the area.

Another factor that may contribute to the high level of equity in homes in the 10805 zip code is the availability of affordable financing options. Over 50% of households in this zip code have access to some form of affordable financing, which is above average for this area. This availability may be due to the presence of several major banks and financial institutions in the area or it may be due to New Rochelle's strong economy.

Despite these positive factors, there are still some challenges facing homeowners in the 10805 zip code. One issue is that there are a limited number of available housing units within this area. As a result, homeownership rates are relatively high compared to other areas within New York City and Westchester County. Additionally, while prices have increased significantly over recent years, incomes have not kept pace with inflation levels. As a result, many families are struggling to make ends meet and are forced to take on additional debt or sell their homes at a loss