12183, Troy, NY

The Troy, NY 12183 zip code has a population of around 102,000 people and is located in the central part of the city. The median home value in this zip code is $164,900 which is significantly higher than the statewide median home value of $146,600. This high home value may be due to the presence of several universities in the area (Rensselaer Polytechnic Institute, SUNY Albany, and Rensselaer Polytechnic Institute), as well as strong job growth over the past few years. Additionally, Troy has been experiencing an influx of new residents due to its proximity to New York City.

Despite these positive factors, there are some challenges facing homeowners in the 12183 zip code. One issue is that there has been a recent uptick in mortgage rates which could make buying a home more expensive for those who are not able to qualify for a higher rate. Additionally, there have been reports of property values decreasing in some areas of Troy due to increased competition from other areas within the city or outside of it. Despite these challenges, homeownership remains an important part of the American Dream and should be pursued by those who can afford it.