16114, Clarks Mills, PA

The 16114 zip code of Clarks Mills, PA has a median home value of $135,000. The home equity in this zip code is $41,000. This means that the typical home owner in this zip code has about 41% of their home's value invested in their home equity.

This is a relatively high percentage when compared to other zip codes in the area. For example, the median home value in the 15209 zip code is only $110,000 and the median home equity in that zip code is only $27,000. In general, homes in more affluent neighborhoods tend to have higher values and more equity invested in them than homes located in poorer neighborhoods.

One reason that homes located in wealthier neighborhoods tend to have more equity invested in them is because wealthy individuals are typically able to borrow more money to purchase a house than poorer individuals are able to do. Additionally, wealthier homeowners are likely to have paid off their mortgages or other debts related to their house earlier than poorer homeowners are likely to have done so. As a result, they may have more money left over after they've paid for their house and invested it into their home equity account.