12110, Latham, NY

The 12110 zip code of Latham, NY has a median home value of $232,000 and a median home equity value of $161,000. This is significantly higher than the statewide median home value of $175,800 and the national median home equity value of $177,200. The 12110 zip code also has a significantly higher percentage of homes with a mortgage than the statewide or national percentages: 66% vs. 50% and 63%, respectively.

There are several factors that may contribute to the high values in the 12110 zip code. First, it is located in one of New York's wealthier counties (Westchester). Second, there is a high concentration of luxury homes in this area (more than 30%). Third, Latham is an affluent suburb that has seen strong growth over the past few years. Fourth, many homeowners have taken advantage of low interest rates to refinance their mortgages multiple times over the past few years. Fifth, Latham residents are generally wealthy enough to be able to afford to pay more for their homes than people in other areas. Sixth, there is little competition for homes in this area which may lead to higher prices.

Despite these factors contributing to high home values in the 12110 zip code, there are some potential risks associated with owning a home here. First, if interest rates rise again (they have been on an upward trend recently), many homeowners who have taken out large amounts of debt on their homes will find themselves struggling financially. Second, if Latham experiences any kind of economic downturn (which could happen given its proximity to Manhattan), prices could fall significantly as more people try to sell their homes and fewer buyers are available due to tighter lending restrictions imposed by banks during periods of economic stress.