12495, Willow, NY

The 12495 zip code of Willow, NY has a median home value of $171,000. The home equity in this zip code is $101,000. This means that the typical home in this zip code is worth 2/3 of its original value. This is lower than the national average of 3/4ths of its original value.

There are several factors that may contribute to the low home equity in this zip code. One reason may be that many homes in this area were built before 1978, when regulations changed which made it more difficult to obtain a mortgage and buy a home. Additionally, there are fewer homes available for sale in Willow than there are people who want to buy them, due to the high demand for housing in nearby areas like Syracuse and Rochester.

Despite these challenges, homeownership rates remain high in Willow – at over 80%. This indicates that many residents here are confident in their ability to maintain their homes and keep up with rising property values. In addition, because mortgages are typically easier to get here than elsewhere in New York State, many residents have been able to borrow against their homes’ equity and take out larger mortgages than they would have if they lived elsewhere.

Overall, while the low level of home equity present in the 12495 zip code may pose some challenges for some residents down the road (e.g., if they need to sell their home or borrow money against it), it also appears to be contributing positively overall – by helping keep prices relatively stable and encouraging homeownership rates above average nationwide