11435, Jamaica, NY

The 11435 zip code of Jamaica, NY has a population of around 16,000 and a median household income of $60,000. The home equity in this area is around $350,000. This means that the average homeowner in this zip code has around $140,000 in equity in their home.

The 11435 zip code is located in the southeastern part of Queens County and is bordered by the boroughs of Elmhurst to the north, Jamaica to the east, Richmond Hill to the south and Howard Beach to the west. The median sale price for homes in this zip code was $269,500 last year. This means that homeowners have an average of just over 2 years worth of mortgage payments left on their home.

There are a number of factors that contribute to home equity growth in Jamaica:

-The population growth rate here is above average (2% vs 1%).

-Rents have been growing more slowly than inflation over recent years (3% vs 5%).

-Home values have been increasing faster than inflation (5% vs 3%).

-There are relatively few foreclosures or short sales happening here (1% vs 4%).

These factors suggest that homeownership opportunities are likely still available for those who want them and that there is good potential for further appreciation in home values over time.