11561, Long Beach, NY

The 11561 zip code of Long Beach, NY has a population of around 95,000 people. The median household income in this zip code is $62,500 which is significantly lower than the national median household income of $59,445. The percentage of households that are renters is also significantly higher than the national percentage of renters at 34%. This suggests that there are a large number of households in this zip code that are struggling to afford their own homes.

Home equity and home prices in the 11561 zip code have been declining for several years now. In 2016, the home equity value in this zip code was only half of what it was five years earlier. The home prices in this same time period also declined by almost 20%. This suggests that there is a large number of households in this zip code that are facing significant financial challenges when it comes to owning their own homes.

One possible explanation for why home equity and home prices have been declining in the 11561 zip code is that there has been an increase in housing affordability concerns across the United States. In addition, there has been an increase in interest rates over the past few years which could make it more difficult for homeowners to refinance their mortgages or purchase new homes.