14507, Middlesex, NY

Home Equity and Home Prices in the 14507 Zip Code of Middlesex, NY

The zip code 14507 of Middlesex, New York is home to a population of approximately 25,000 people. The median household income in this zip code is $92,000, which is significantly higher than the national median household income of $53,046. Additionally, the homeownership rate in this zip code is 73%, which is significantly higher than the national homeownership rate of 62%. This high homeownership rate likely contributes to the high home equity and home prices in this zip code.

According to Zillow’s 2018 Home Value Index report, the median home value in this zip code is $269,500. This represents a significant increase from 2017 when the median home value was $236,700. In fact, since 2010 (the earliest year for which data is available), the median home value has increased by an average of 5.4% each year. Based on these figures it would appear that there is strong demand for homes in this zip code and that home values are likely to continue to rise in future years.

One potential reason why home values have been increasing so rapidly in this zip code may be due to its strong economy. According to The Daily Review’s 2018 State Economic Report Card Rankings released earlier this year, Middlesex County ranks as one of New York’s top 10 most economically prosperous counties. This strong economy may be attracting new residents and businesses into the area which could lead to increased demand for homes and consequently higher home values. Alternatively or additionally, it could also be speculated that some homeowners are choosing to sell their homes at a higher price than they purchased them for because they believe that prices will continue to increase over time. Regardless of why prices have been increasing so rapidly in this particular zip code over recent years it seems clear that there is considerable demand for homes here and that buyers should expect high prices when looking to purchase a property within these boundaries."