15906, Johnstown, PA

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. Home prices are the amount that someone is willing to pay for a property. In Johnstown, PA, home equity and home prices have been on the rise in recent years. The 15906 zip code has seen an increase in both home equity and home prices since 2013.

In 2013, the median home value in the 15906 zip code was $112,000. By 2016, this number had increased to $128,000. This represents an increase of over 20%. Additionally, during this same time period, the percentage of homeowners with at least 50% equity in their homes increased from 33% to 41%. This indicates that more people are able to take advantage of rising home values and are able to buy homes that they may not have been able to afford before.

One reason for this increase in home values may be due to low interest rates. Since 2013, interest rates have decreased significantly which has made it more affordable for people to borrow money and buy homes. Additionally, there has been an increase in demand for housing due to population growth and an aging population. As more people move into the 15906 zip code and want to purchase homes, prices will continue to go up.