12424, East Jewett, NY

The 12424 zip code of East Jewett, NY has a median home value of $128,000 and a median home equity value of $111,000. The zip code has a population of 1,851 people and a median age of 36.7 years. There are 593 households in the zip code and an average household size is 2.73 people. The median income for the zip code is $60,000 and the unemployment rate is 3%.

The 12424 zip code has seen an increase in home values over the past five years. In 2012, the median home value was $119,000 and in 2016 it was $128,000. This increase can be attributed to several factors including an increase in population (due to migration or births), low interest rates (which make mortgages more affordable) and limited supply of homes available for purchase within the area.

Despite this recent uptick in prices, there are still many homeowners who are underwater on their mortgages (meaning they owe more on their homes than their homes are worth). This situation can lead to financial difficulties if interest rates rise or if the homeowner cannot find another buyer for their home quickly enough.

Homeowners who are underwater on their mortgages may also be interested in refinancing their mortgage to take advantage of low interest rates currently available. Refinancing can often result in a lower monthly payment than what homeowners currently pay on their mortgage plus interest payments and allows homeowners to take advantage of historically low interest rates while still having some equity remaining in their home.

Overall, it appears that East Jewett residents have been able to benefit from increased home values over the past few years while still facing some challenges related to high levels of indebtedness among homeowners