11598, Woodmere, NY

Woodmere, NY is located in the 11598 zip code. According to the 2010 census, the population of Woodmere was 9,827. The median household income in Woodmere was $101,912. The median home value in Woodmere was $547,000.

There has been a steady increase in home values and equity over the past five years in Woodmere. In 2008, the median home value was $459,000 and by 2012 that had increased to $547,000. Over this same time period there has also been an increase in home equity as measured by percentage of mortgage value paid off (from 56% in 2008 to 69% in 2012). This indicates that homeowners have been able to achieve a high level of financial stability through their homes and have built up significant equity within their homes.

One factor that may be contributing to this trend is the low interest rates currently available on mortgages. Low interest rates make it easier for homeowners to pay off their mortgages faster and build up more equity within their homes. Additionally, since housing prices are generally stable over long periods of time (with rare exceptions), it can be more financially secure for homeowners to invest their money into their homes rather than investing it elsewhere where there is greater potential for loss.

While there are many factors contributing to increased home values and equity within Woodmere over the past five years, one key factor appears to be low interest rates combined with stable housing prices overall. As long as these conditions continue, homeowners should continue seeing strong gains in their home values and equity over time