12084, Guilderland, NY

Home Equity and Home Prices in the 12084 Zip Code of Guilderland, NY

The home equity and home prices in the 12084 zip code of Guilderland, NY are very high. The median home value in this zip code is $269,000, which is more than double the national median home value of $123,500. Additionally, the percentage of homes that are worth more than their original purchase price is also very high in this zip code. For example, approximately 78% of homes in this zip code are worth more than their original purchase price. This is much higher than the national average of 54%.

One reason for this high level of home equity and home prices in the 12084 zip code is likely due to its strong economy. The unemployment rate in Guilderland is only 2%, which is much lower than the national average unemployment rate of 6%. Additionally, there are a number of businesses located in this zip code that have been successful over time and can be considered recession-proof. These include companies such as IBM and Pfizer. Therefore, it is likely that people who live in this zip code are able to afford to buy a house even if the economy goes down temporarily.

On the other hand, some people may not be able to afford a house because of the high level of home equity and home prices in this zip code. If someone does not have enough money saved up to buy a house outright or if they need to borrow money to do so, they may not be able to live in this area permanently. In addition, if interest rates increase significantly from their current levels (which they could), people who own homes here could see their debt payments increase significantly as well.