13685, Sackets Harbor, NY

The 13685 zip code of Sackets Harbor, NY is located on the eastern shore of Lake Ontario and has a population of just over 2,000. The median household income in this zip code is $60,000 and the median home value is $183,500. Home equity in this zip code has increased by over 50% since 2007 and home prices have increased by over 25%.

One reason for the increase in home equity in this zip code is that there are a number of affluent families who have chosen to live here. The average household income in this zip code is well above the state average and there are also a number of businesses located here. Additionally, many homes were built before 2007 and have not seen as much inflation as other areas of the country. This means that homeownership rates are high and there is more demand for housing than there are available properties.

Another factor contributing to the increase in home values in this area is that interest rates have remained low for an extended period of time. This has made it more affordable to borrow money to buy a home than it has been in previous years, which has helped to drive up prices. Additionally, there are limited options for new construction within this zip code which means that homes that do come on the market tend to be quickly snapped up by buyers who want to get into the market before prices increase even further.