18324, Bushkill, PA

Bushkill, PA is located in the northeast corner of Pennsylvania and has a population of just over 2,000. The 18324 zip code covers just over 1 square mile and has a median home value of $123,000. Bushkill is an affluent area with a median household income of over $130,000.

The home equity in Bushkill is high compared to the rest of Pennsylvania. The median home value in the state is just over $100,000 while the median home value in Bushkill is almost triple that at $236,000. This high level of equity can be attributed to several factors including the high incomes and low unemployment rates in the area.

The average monthly mortgage payment for homes in Bushkill is also much lower than the statewide average. The average monthly mortgage payment for homes in Bushkill is just under $1,200 which is about one-third of what the statewide average monthly mortgage payment is at $2,700. This lower cost of housing may be due to several factors including lower interest rates and smaller down payments required by lenders in Bushkill.

Despite these positive factors, there are some risks associated with having such high levels of home equity in Bushkill. One risk is that if interest rates rise or if the market for homes within the 18324 zip code declines significantly, homeowners could find themselves struggling to pay their mortgages on their current levels of equity. Another risk related to having such a high level of home equity is that if someone were to lose their job or experience significant financial hardship, they may be unable to afford to repay their mortgages on their current levels of equity.