13309, Boonville, NY

When people think of home equity, they typically think of the value of their home minus any outstanding mortgages or other debts. In some cases, the value of a home can be even higher if it's located in a desirable area.

According to Zillow, the median home value in the 13309 zip code is $143,000. This means that there are a lot of homes in this area that are worth more than what is owed on them. In fact, as of September 2017, there were 1,827 homes for sale in this zip code and only 207 were listed at less than $100K.

This indicates that most homeowners in this area are able to borrow against their homes and get more money for them than what they originally paid for them. This helps to keep prices high and makes it easier for people to buy homes here.

Another reason why home prices are high in this zip code is because there is a lot of demand for housing here. According to Zillow's analysis, Boonville has been one of the fastest-growing zip codes in New York over the past five years. This means that there are more people moving into this area and looking for homes to buy or rent.

As a result, competition among buyers has been fierce and has driven up prices even further. Home sellers who don't want to wait around can also benefit from high demand by listing their homes quickly and getting top dollar for them.

Overall, it seems like homeownership rates are high in Boonville because borrowers have access to ample credit and buyers have strong competition among themselves which drives up prices