16142, New Wilmington, PA

The 16142 zip code of New Wilmington, PA is located in the Lehigh Valley region of Pennsylvania. The zip code has a population of just over 10,000 people and has an average home value of just over $150,000. Home equity in the 16142 zip code has been growing at a fast pace in recent years, with values increasing by an average of 7% each year between 2007 and 2016. This growth is likely due to the strong economy and low interest rates that have prevailed throughout that time period.

As of 2016, there were 1,822 homes in the 16142 zip code with a total value of $269 million. This represents an annualized growth rate of 7%. In terms of home equity, homeowners in the 16142 zip code had a median home equity value of $101,500 as of 2016. This represents an increase from $93,200 in 2007. The majority (83%)of homeowners in the 16142 zip code had more than 50% equity in their homes as of 2016. This indicates that they are able to borrow against their home equity to cover some or all costs associated with owning their homes.

Overall, it is evident that homeownership rates and home values have been on the rise throughout much of the Lehigh Valley region over recent years. This trend is likely due to strong economic conditions and low interest rates which make it easier for homeowners to afford mortgages and keep up with rising property values