14589, Williamson, NY

The Williamson zip code 14589 has a population of about 10,000 people and an average home value of about $215,000. The median home value in the zip code is $205,000. Home equity in this zip code is relatively high compared to other areas of the country. In Williamson, the average home equity is about 36% of the median household income. This means that most homeowners in this area have a significant amount of equity in their homes.

One reason for this high level of home equity is likely the low rate of foreclosure activity in Williamson. There were only six foreclosure filings recorded in Williamson during 2017, which is far lower than the national average of more than one per day. This low level of foreclosure activity likely reflects strong demand for housing stock and strong economic conditions in Williamson.

Another factor that may contribute to high levels of home equity in Williamson are low interest rates. The interest rate on a 30-year fixed-rate mortgage was 3.64% as of March 2019, which is much lower than the national average rate (4.31%). Low interest rates make it easier for homeowners to afford their monthly mortgage payments and increase their overall net worth over time.