17109, Harrisburg, PA

The 17109 zip code of Harrisburg, PA has a population of over 100,000 people and is home to many businesses and organizations. The median home value in this zip code is $158,000, which is above the national median home value of $127,500. In addition, the 17109 zip code has a high rate of homeownership at 82%, which is above the national homeownership rate of 69%. These factors contribute to the high home equity and home prices in this area.

One reason for the high home equity and home prices in the 17109 zip code is that there are a lot of affluent residents living in this area. The median household income in this zip code is $86,500, which is above the national median household income of $55,600. Additionally, there are a lot of businesses and organizations located in this area that provide jobs and wages for residents. For example, Harrisburg University Hospital employs over 2200 people and generates an annual payroll of over $300 million. Therefore, there are plenty of opportunities for residents to earn an income and increase their homes' values.

Another factor contributing to the high home equity and home prices in the 17109 zip code is that there are a lot of luxury homes available for sale here. The average list price for a luxury home in this zip code is $269,900, which is well above the national average list price of $225,000. This indicates that there are plenty of wealthy individuals who want to live in this area and purchase luxury homes. As a result, demand for housing has outpaced supply significantly here over recent years leading to increased prices for homes overall.

Overall then, it can be said that both strong demand from affluent residents as well as limited supply have led to high rates of homeownership as well as elevated levels of home equity andhome prices within the 17109 zip codeof Harrisburg,.