14897, Whitesville, NY

Home Equity and Home Prices in the 14897 Zip Code of Whitesville, NY

The zip code 14897 of Whitesville, New York has a median home value of $130,000. This is lower than the statewide median home value of $177,500. The zip code also has a lower than average percentage of homes with mortgages at 84%. This indicates that many homeowners in this zip code are able to borrow against their homes equity.

The average home price in this zip code increased by 9% from 2013 to 2014. This is slower than the statewide increase of 12%. However, it is still above the national increase of 5%.

There are several factors that may be contributing to the slower statewide growth rate and faster growth rate in this particular zip code. One potential explanation could be that there are more affluent households in this area which can afford to purchase larger homes and pay higher prices. Additionally, there may be more opportunities for investment or speculation in this area due to its low mortgage rates.

Overall, despite slower statewide growth rates, there appears to be strong demand for housing within the 14897 zip code. This suggests that homeownership rates will continue to stay high despite increasing prices.