12725, Claryville, NY

Home equity is a measure of the value of an owner's home, minus any outstanding mortgages or other liens on the property. In general, the higher the home equity, the more valuable the home. Home prices are also a measure of how much an owner can sell their home for. The higher the home price, the more money they can potentially make if they were to sell their home.

According to Zillow, as of September 2017, Claryville had a median home value of $206,000. This is significantly lower than some other zip codes in upstate New York (for example: $269,000 in Ithaca and $269,900 in Syracuse). However, Claryville's median home value is still above both the statewide median ($175,500) and national median ($161,200). Additionally, Claryville's homeownership rate (68%) is above both statewide (54%) and national rates (63%). This indicates that there are plenty of homes available for sale in Claryville – even at lower prices than some other areas in upstate New York.

One reason why Claryville's median home value may be lower than some other areas is that it has a high percentage of single-family homes compared to other parts of upstate New York. According to Zillow data from May 2018:

In general: Zip codes with high percentages of single-family homes tend to have lower median values because those homes are less likely to be converted into apartments or condos – which would increase their marketability and therefore their worth.

Claryville has a whopping 97% concentration of single-family homes – which means that most properties here are not multifamily dwellings like apartments or condos. As a result: Median values for zip codes with high percentages of single-family homes tend to be lower than those for zip codes with more mixed housing types (apartments and condos).