15501, Somerset, PA

The 15501 zip code of Somerset, PA has a median home value of $128,000 and a median home equity value of $101,000. This is significantly lower than the Pennsylvania median home value of $217,500 and the national median home equity value of $142,200. The 15501 zip code has a lower home value than 66% of all zip codes in Pennsylvania and only 25% of all zip codes in the United States. Additionally, the 15501 zip code has a lower home equity value than 56% of all zip codes in Pennsylvania and only 30% of all zip codes in the United States.

There are several factors that may contribute to the low home values in the 15501 zip code. First, Somerset is located in an economically depressed region of Pennsylvania. Second, there is a high level of foreclosures and short sales in this area which may have depressed homeowners' equity values. Third, many homeowners who live in this area are elderly or have low income levels which may make it difficult for them to afford to upgrade or replace their homes. Finally, many homes in this area were built before 1978 which may be less desirable to buyers due to its older construction style.