12308, Schenectady, NY

The 12308 zip code of Schenectady, NY has a population of around 30,000 people. The median household income in this zip code is $60,000 which is lower than the national median household income of $53,046. The homeownership rate in this zip code is around 62% which is lower than the national homeownership rate of 69%. The percentage of households that are occupied by renters is around 28% which is higher than the national percentage of renters at 24%.

There has been a decrease in home prices over the past few years in this zip code. In January 2017, the home price index for this zip code was 97.5 which was lower than the January 2016 index value of 100. This indicates that there has been a decrease in home prices over the past year. Over the past five years, home prices have decreased by an average of -4%.

One factor that could be contributing to the decrease in home prices in this zip code is low interest rates. Since 2007, interest rates have been at or below historic lows and could be contributing to increased demand for housing and decreasing demand for housing assets such as homes. Another factor that could be contributing to decreased demand for housing assets such as homes are low levels of employment and wages relative to historical averages.