16052, Prospect, PA

The zip code of 16052 in Prospect, Pennsylvania has a median home value of $119,900. This is significantly lower than the state median home value of $183,700 and the national median home value of $177,200. The 16052 zip code also has a low percentage of homeowners with a mortgage at just 36%. This is significantly lower than the state percentage of homeowners with a mortgage at 50% and the national percentage of homeowners with a mortgage at 63%.

There are several factors that may be contributing to this low percentage of homeowners with mortgages in the 16052 zip code. One possibility is that many potential homeowners in this area are already owners or have purchased their homes within the past few years. Another possibility is that there are not enough homes available for sale in this area, which would lead to fewer potential buyers who could qualify for a mortgage. Finally, it's possible that some prospective buyers may not be able to afford a home in the 16052 zip code without assistance from family or friends.

Despite these challenges, there are still plenty of homes available for purchase in the 16052 zip code. In fact, according to Zillow®, as of September 2018 there were 2,848 active listings in this area compared to 2,964 active listings as of August 2018. This suggests that there is still strong demand for housing in this area despite the low percentage of homeowners with mortgages.