14824, Cayuta, NY

The 14824 zip code of Cayuta, New York is located in the Finger Lakes region and has a population of just over 2,000 people. The median household income in this zip code is $92,500, which is significantly higher than the statewide median household income of $60,000. Additionally, the home equity and home prices in this zip code are both significantly higher than the statewide average. As of March 2016, the median home value in this zip code was $236,500 while the median home equity value was $183,000. This indicates that homeowners in this zip code have a significant amount of equity in their homes relative to other residents in New York State.

One reason why homeownership rates are high in Cayuta is likely due to its low unemployment rate. In March 2016, the unemployment rate for Cayuta was just 2.1%, which is much lower than the statewide unemployment rate of 3.9%. Additionally, Cayuta has a very low poverty rate (4% as of 2016) which may also contribute to its high homeownership rates. Another factor that may contribute to Cayuta's high homeownership rates is its strong economy; as of March 2016, the GDP per capita for this zip code was $39,700 which is well above the statewide GDP per capita average of $27,600. These factors indicate that there are many opportunities available to residents here and that they are able to afford homes even if their incomes are modestly higher than average.