11106, Astoria, NY

The home equity and home prices in the Astoria, NY zip code of 11106 are reflective of the general trend in the greater New York City metropolitan area. Over the past five years, home equity values have increased by an average of 7.5%, while prices for single-family homes have increased by an average of 6.4%. This has led to a modest increase in homeownership rates from 63.2% in 2010 to 64.7% as of 2016, although this is still below the national average of 69%.

One factor that may be contributing to these trends is that Astoria is a relatively affluent area, with a median household income of $101,000 as of 2016. This affords homeowners more opportunity to increase their home equity and purchase a new or larger home than would be possible for someone living in a less affluent community. Additionally, Astoria has seen strong growth over the past several years due to its proximity to Manhattan and other major urban areas. As such, there is increasing demand for housing within its boundaries, which has driven up prices accordingly.