14612, Rochester, NY

The 14612 zip code of Rochester, NY has a median home value of $137,500 and a median home equity value of $106,000. This is significantly lower than the statewide median home value of $247,200 and statewide median home equity value of $142,600. The 14612 zip code also has a lower than average percentage of homeowners with mortgages at 66%. This is significantly higher than the statewide percentage of homeowners with mortgages at 54%.

There are several factors that may contribute to the low home values in the 14612 zip code. One potential reason is that this area has experienced significant population decline in recent years. As a result, there are fewer homes for sale and therefore fewer buyers who can afford to purchase a home at or near market prices. Additionally, many homes in this zip code are older and may not be in good condition. As such, they may not be worth as much as newer homes that have been renovated or built recently.

Despite these factors, there are some homeowners in the 14612 zip code who have been able to achieve significant gains in their home equity values over time. This likely reflects the fact that some residents have been able to find properties that are worth more than their original purchase price – even after taking into account depreciation (the decrease in value caused by wear and tear). In addition, some residents may have chosen to invest their money wisely by purchasing property that is located in an area where prices are rising rapidly (such as downtown Rochester).