14609, Rochester, NY

Home Equity and Home Prices in the 14609 Zip Code of Rochester, NY

There are a number of factors that affect home equity and home prices in any given area. In Rochester, NY, the average price of a single-family home was $158,000 as of September 2017. This is up from $146,000 in September 2016. The median home value in this zip code is also up from $135,000 to $158,000 over this same time period. However, there are a number of factors that could contribute to these changes. For example:

-The population growth rate in Rochester has been relatively stable over the past few years at around 1%. This means that there are not enough new homes being built to offset the ones that are being sold. As a result, prices for existing homes have increased faster than prices for new homes.

- Rochester has seen an increase in interest rates over the past few years which has made buying a home more expensive overall.

-The stock market has been volatile recently which could lead to increased demand for housing but also higher prices if investors decide to sell their properties sooner than expected.