13843, South New Berlin, NY

The 13843 zip code of South New Berlin, NY has a median home value of $191,000 and a median home equity value of $141,000. This is significantly higher than the statewide median home value of $146,500 and the national median home equity value of $142,700. The 13843 zip code also has a significantly higher percentage of homes with a mortgage than the statewide or national percentages: 73% vs. 62% and 66%, respectively.

One reason for this high level of homeownership in the 13843 zip code may be its relatively low population density: only 2,812 people per square mile vs. 3,591 people per square mile statewide and 3,977 people per square mile nationally. Another factor may be the strong economy in South New Berlin: according to data from Zillow, the average list price for homes in this zip code was up 10% year-over-year as of March 2018.

Despite these positive factors, there are some challenges facing homeowners in the 13843 zip code. One is that interest rates are currently very low – at 0.25% as of February 2019 – which can make it difficult to afford a mortgage on a new or existing home. Additionally, there is an increasing trend towards “smart” homes – which are built with features like sensors that allow them to communicate with other devices in order to manage energy use or security – which can be more expensive to install and maintain than traditional homes.