13736, Berkshire, NY

The 13736 zip code of Berkshire, New York is located in the northwest corner of the town of Pittsfield. The area has a population of just over 10,000 and an average household income of just over $100,000. Home prices in this zip code have been increasing rapidly in recent years, reaching a peak in 2017 before beginning to decline. At present, home prices are approximately 25% below their peak value.

One reason for the rapid increase in home prices in this zip code is that it is located near several major metropolitan areas. These include Boston (just over an hour away), Hartford (just under two hours away), and Albany (just over three hours away). This proximity to large cities has led to increased demand for housing and consequently higher home prices.

Another factor contributing to the high home values in this zip code is its low unemployment rate. In 2017, the unemployment rate here was just 2%. This low unemployment rate makes it easier for people to afford homes and also leads to increased demand for housing because more people are able to buy homes than would be otherwise possible.

Despite these factors, there are some potential risks associated with buying a home in this zip code. One such risk is that interest rates could rise significantly and make it more difficult for people to afford their homes. Another potential risk is that the market could suddenly become saturated and lead to decreased demand for homes, which would lead to lower home values.