14480, Lakeville, NY

Home Equity and Home Prices in the 14480 Zip Code of Lakeville, NY

The 14480 zip code of Lakeville, NY has a median home value of $191,000. The home equity for this zip code is $112,000. This means that the typical homeowner in this zip code has over 50% of their home equity invested in their home. This is a higher percentage than the national average of 33%.

There are several factors that contribute to the high home equity in this zip code. First, there is a high concentration of families with children under 18 living in this area. These families are likely to have more money saved up than families without children and are therefore more likely to be able to invest in their homes. Second, there is a high concentration of married couples with two incomes residing here. Couples who can afford to both save money and buy a house are more likely to do so than couples who can only save money or only buy a house.

Despite these positive factors, there are also some challenges facing homeowners in the 14480 zip code. One challenge is that prices have been increasing faster than wages over the past few years which has made it harder for many homeowners to make significant gains on their investments over time. Another challenge is that interest rates have been relatively low lately which makes it harder for homeowners to get good returns on their investments without taking on extra risk.

Overall, despite some challenges, homeowners in the 14480 zip code appear to be doing well when it comes to their home equity and home prices.