12941, Jay, NY

The 12941 zip code of Jay, NY has a median home value of $224,000 and a median home equity value of $128,000. The 12941 zip code is located in the Southern Tier region of New York State. The 12941 zip code has a population of approximately 9,500 people.

The 12941 zip code has seen an increase in home values over the past five years. In 2012, the median home value was $209,000 and the median home equity value was $120,000. In 2016, the median home value was $224,000 and the median home equity value was $128,000. This indicates that there has been an increase in both the Median Home Value and Median Home Equity Value in this zip code over the past five years.

One factor that may have contributed to this increase in home values is that Jay is located in a desirable area with many opportunities for growth. The 12941 zip code is located within close proximity to several major cities including Rochester (30 miles), Syracuse (40 miles), Ithaca (50 miles), and Buffalo (60 miles). Additionally, Jay is within driving distance of several popular tourist destinations such as Niagara Falls (90 miles), Saratoga Springs (45 miles), and Lake Placid (35 miles). These factors may have contributed to increased demand for homes in this area which resulted in an increase in home values.

Another factor that may have contributed to increased demand for homes in the 12941 zip code is low interest rates. Since 2007, interest rates have been relatively low which may have encouraged people to purchase homes sooner rather than later. Additionally, since 2013 there has been an influx of families moving into Jay which may also contribute to increased demand for homes. Families are typically more likely to purchase or invest in property than individuals who are not related by blood or marriage. Therefore, families are likely to add additional pressure on housing prices when they decide to buy or invest in property."