17601, Lancaster, PA

Home Equity and Home Prices in the 17601 Zip Code of Lancaster, PA

The 17601 zip code of Lancaster, PA has a median home value of $137,200. This is higher than the statewide median home value of $123,500. The 17601 zip code also has a lower than average percentage of homeowners with mortgages at 66%. This is lower than the statewide percentage of homeowners with mortgages at 71%. The 17601 zip code has a higher percentage of homeowners who have equity in their homes at 86%. This is higher than the statewide percentage of homeowners who have equity in their homes at 78%.

There are several factors that may contribute to the high home values and low mortgage rates in the 17601 zip code. First, this area is affluent and populated by educated professionals who are likely able to afford more expensive homes. Second, there are relatively few foreclosures or short sales in this area which may keep prices high. Third, there is little competition for homes due to its limited population size. Finally, Lancaster is one of only a few cities in Pennsylvania that does not impose any zoning restrictions on home size or type which may also contribute to high home values.