16601, Altoona, PA

The 16601 zip code of Altoona, PA has a population of around 30,000 and a median home value of $129,900. The average home equity in this zip code is around $60,000. This means that the majority of homes in this zip code are owner-occupied and have some level of equity.

Home prices in the 16601 zip code have been increasing steadily over the past few years. In 2016, the median home value was up 5% from 2015 and 9% from 2014. This trend is likely to continue as more people move into this area and demand for housing increases.

One reason for the increase in home values is that Altoona has seen strong job growth over the past few years. The city has seen an influx of new businesses and jobs, which has led to increased demand for housing. Additionally, there is a limited supply of homes available in Altoona which has driven up prices.

Despite these positive trends, there are some risks associated with buying a home in the 16601 zip code. One risk is that interest rates could rise over time and make it more difficult to afford a mortgage on a home worth $129,900. Another risk is that the market could crash causing homes in this area to lose value rapidly.