14830, Corning, NY

Home Equity and Home Prices in the 14830 Zip Code of Corning, NY

The 14830 zip code of Corning, NY has a median home value of $142,000. This is higher than the statewide median home value of $135,800. The 14830 zip code also has a median home equity value of $101,000 which is higher than the statewide median home equity value of $87,200. The 14830 zip code has a lower than average homeownership rate at just 54%. This is lower than the statewide homeownership rate of 63%. There are also more homes for sale in the 14830 zip code than there are homes available for purchase. This indicates that there is strong demand for housing in this area.

One reason that there is strong demand for housing in the 14830 zip code is because it has a low unemployment rate. The unemployment rate in the 14830 zip code is 3% which is lower than the statewide unemployment rate of 4%. Additionally, there are many jobs available in this area including jobs in manufacturing and technology. These types of jobs tend to be high paying and attract people who want to live in an area with plenty of opportunity.

Despite having a low unemployment rate and many jobs available, some people may still find it difficult to afford to buy or rent a house in the 14830 zip code. One reason for this may be because wages have not kept up with inflation over time. The average wage in the 14830 zip code was $57,600 as of 2016 which was lower than the statewide average wage of $60,700. Additionally, interest rates have been on the rise over recent years which makes it more expensive to borrow money to buy or rent a house.