14850, Ithaca, NY

The 14850 zip code of Ithaca, NY has a median home value of $163,000. The home equity in this zip code is $87,000. This means that the typical homeowner in this zip code has over $100,000 in equity in their home.

There are a number of factors that contribute to the high home equity values in this zip code. First, Ithaca is a relatively affluent area and the average household income is above the national average. Second, there are a large number of college-educated residents who have been able to leverage their incomes into sizable home equity holdings. Finally, Ithaca homes tend to be relatively affordable compared to other areas of New York City and Western Massachusetts.

Despite these advantages, there are some risks associated with having high levels of home equity. If interest rates rise significantly from their current low levels, homeowners may find it difficult to make required mortgage payments on their inflated balances. Additionally, if the market for homes in this zip code falls significantly below its current level, homeowners could find themselves facing significant losses on their investments.