12015, Athens, NY

The 12015 zip code of Athens, NY has a population of around 25,000 people. The median household income in this zip code is $75,000 which is above the national median household income of $53,046. The home equity and home prices in this zip code are both high. As of March 2019, the median home value in this zip code is $269,500 which is more than double the national median home value of $130,800. Additionally, the average home equity loan amount in this zip code is $172,500 which is also higher than the national average loan amount of $146,100. This indicates that people in this zip code are able to borrow a larger amount of money to purchase a home than people in other parts of the country.

One reason why the home equity and home prices in this zip code are high is because there are a lot of wealthy residents living here. The percentage of households earning over $200,000 annually is above the national average and there are also a lot of college graduates living here. These factors together mean that there are a lot of potential buyers who can afford to purchase a homes at high prices.

Another reason why the home equity and home prices in this zipcode are high is because there are not many available homes for sale compared to other parts of the country. As mentioned earlier, there are a lot wealthy residents living here which means that demand for homes exceeds supply. Additionally, many homeowners have taken out large loans against their homes which means that they cannot sell their homes easily if they want to move or if they want to downsize. This situation has caused house prices to increase significantly over time even though there have been few new housing developments built in this area over recent years.