13783, Hancock, NY

The 13783 zip code of Hancock, New York is located in the Southern Tier region of the state. The population of this zip code was 10,872 as of the 2010 census. The median household income in this zip code was $60,903 as of 2010. The median home value in this zip code was $143,500 as of 2010.

Home equity is a key factor in homeownership and home prices. Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage or loan. As home prices rise, so does the amount homeowners can borrow against their homes to purchase other assets or pay off debts. In some cases, homeowners may use their home equity to pay for college educations or other major expenses.

According to Zillow®, Hancock has one of the highest rates of home equity growth in New York State over the past year (2%). This indicates that there are plenty of opportunities for buyers who are looking to purchase homes in this area with ample amounts of available equity. Additionally, Hancock ranks #1 out of 562 ZIP codes nationwide for percentage increase in median home value from 2009-2013 (4%). This indicates that there is strong demand for properties within this ZIP code and that buyers should expect high demand when searching for properties here.