14708, Alma, NY

The 14708 zip code of Alma, NY has a median home value of $161,000 and a median home equity value of $122,000. This is higher than the statewide median home value of $146,500 and the national median home equity value of $142,700. The 14708 zip code also has a lower than average homeownership rate at 63%. This is due to the high percentage of renters in this area.

The 14708 zip code has seen an increase in its home values over the past five years. In 2013, the median home value was $139,000 and in 2017 it was $161,000. Over this same period, the statewide median home value increased by 6% and the national median home equity increased by 9%. The increase in Alma's home values can be attributed to several factors including an increasing demand for housing stock as well as low interest rates.

Despite seeing an increase in its values over the past few years, Alma's homeownership rate remains lower than average. This is likely due to the high percentage of renters in this area. As more people enter into homeownership over time, Alma's homeownership rate will likely rise closer to average.