11747, Melville, NY

The 11747 zip code of Melville, NY has a median home value of $236,000 and a median home equity value of $128,000. This compares favorably to the statewide median home value of $175,800 and statewide median home equity value of $142,200. The 11747 zip code also has a lower than average percentage of homeowners with negative equity (less than 20% compared to the statewide average of 29%).

There are several factors that may contribute to the high home values in the 11747 zip code. First, Melville is located in Suffolk County which is one of the most affluent counties in New York State. Second, there is a high demand for housing in Melville due to its proximity to both Manhattan and Long Island. Third, there are relatively few homes for sale in the 11747 zip code which may lead buyers to pay more for a property. Finally, many homeowners in the 11747 zip code have taken advantage of low interest rates over the past few years and have been able to increase their equity holdings significantly.