14514, North Chili, NY

The 14514 zip code of North Chili, NY has a median home value of $187,000 and a median home equity value of $144,000. This indicates that the majority of homes in this zip code are valued at around two-thirds of their original purchase price. In addition, the average monthly mortgage payment for homes in this zip code is $1,521 which is lower than the national average of $1,729. These figures indicate that homeowners in this area are able to afford to maintain their homes relatively cheaply.

Despite these positive indicators, there are some potential risks associated with owning a home in the 14514 zip code. For example, North Chili is located in an area that has seen significant growth over the past few years and as a result there is now a higher demand for housing than there is available supply. As a result, house prices have increased significantly faster than incomes and as such it may be difficult for homeowners to keep up with rising costs if they do not have enough income to spare. Additionally, North Chili experiences colder winters than many other parts of New York which could lead to damage or loss of property if homeowners do not take proper precautions (such as installing insulation).