12564, Pawling, NY

Pawling, NY is located in the 12564 zip code. According to the 2010 census, the population of Pawling was 9,912. The median household income in Pawling was $101,868. Home equity and home prices in the 12564 zip code are important factors to consider when looking at purchasing a home.

The average home price in Pawling was $259,000 as of September 2016. The average home equity value in Pawling was $151,000 as of September 2016. Home prices have increased significantly over the past few years and are likely to continue doing so for the foreseeable future. This is good news for homeowners who are able to afford a home and bad news for those who are looking to purchase a home but cannot afford the current prices.

Homeownership rates in Pawling are high compared to many other areas of New York State. In 2016, 68% of households in Pawling were owner-occupied compared to 54% statewide and 46% nationwide (Zillow). This high rate of homeownership may be due in part to low interest rates and limited availability of housing stock relative to other areas of New York State. Additionally, there is a strong demand for homes in Pawling due to its desirable location and amenities such as access to nature trails and schools with excellent ratings (Zillow).

Despite these positive factors, there are some challenges that homeowners face when purchasing a home in Pawling. One challenge is that mortgage rates are higher than they are elsewhere in New York State or nationally (NAR). Another challenge is that homes available for sale tend to be smaller than homes available elsewhere (Zillow). Finally, although property taxes are lower than they are elsewhere in New York State or nationally (NAR), they can still be quite high when comparing them with other areas of the country (Zillow). Taken together, these challenges mean that homeownership rates may not be appropriate for everyone looking into purchasing a home within the 12564 zip code.