11433, Jamaica, NY

The 11433 zip code of Jamaica, NY has a median home value of $202,000 and a median home equity value of $101,000. The 11433 zip code is located in the Central New York region and has a population of approximately 10,500. The 11433 zip code has a high rate of homeownership at 82%, which is above the national average of 67%. Additionally, the 11433 zip code has a low rate of mortgage delinquency at 2%.

There are several factors that contribute to the high rate of homeownership in the 11433 zip code. First, there is an abundance of available housing stock in the area. Second, residents have access to good credit scores and ample savings resources. Finally, many residents are able to afford homes based on their income alone rather than relying on government assistance programs like Section 8 or HUD-assisted housing.

Despite these positive factors, there are some challenges that face residents in the 11433 zip code when it comes to home equity and home prices. One challenge is that interest rates have been relatively low for much of this decade, which has made it more difficult for people to save money for a down payment on a house. Additionally, there is limited inventory available for sale in the area which can lead to bidding wars and higher prices for homes. Finally, some residents may be unable to qualify for mortgages due to their poor credit history or low income levels.