13045, Cortland, NY

The 13045 zip code of Cortland, NY has a median home value of $128,000 and a median home equity value of $109,000. This is lower than the statewide median home value of $177,500 and the national median home equity value of $142,200. The 13045 zip code also has a low homeownership rate at just 36.4%. This is lower than the statewide rate of 43.5% and the national rate of 59.2%.

There are several factors that may contribute to these low home values in the 13045 zip code. One reason may be that Cortland is a relatively small town with a population of just over 10,000 people. This means that there are not as many homes for sale or as many people who can afford to buy them. Additionally, Cortland has been hit hard by economic recession in recent years which may have caused more people to default on their mortgages or lose their homes to foreclosure.

Despite these challenges, there are some positive indicators for the 13045 zip code when it comes to home values. For example, Cortland is located in one of New York's most desirable areas - Central New York - which may help to increase demand for homes in this area and drive up prices. Additionally, Cortland has seen an influx of new residents in recent years which may lead to increased demand for housing and higher home values down the road.