13402, Madison, NY

The 13402 zip code of Madison, NY has a median home value of $227,000 and a median home equity value of $142,000. This is significantly higher than the statewide median home value of $175,800 and the national median home equity value of $141,700. The high home values in this zip code are likely due to the presence of prestigious universities such as Cornell University and the University at Albany (SUNY). Additionally, Madison is located in one of the most affluent counties in New York State - Saratoga County.

Despite the high home values in this zip code, there has been a recent trend towards decreasing home prices. Between January 2006 and January 2017, the Madison area saw a decrease in its average monthlyhome price by 5%. This decrease may be partially attributed to low interest rates and increased demand for housing due to an influx of college students into the area.

Despite these fluctuations in home prices, it is important to keep in mind that homeownership rates remain high throughout Madison - at over 81% as of 2016. This indicates that many homeowners are able to sustainably maintain their homes despite occasional dips in market values.