The 18347 zip code of Pocono Lake, PA is located in the Northeastern corner of Pennsylvania and includes the communities of East Stroudsburg, Monroe Township, Pocono Summit Borough, and Tannersville. Home prices in this zip code have increased significantly over the past several years as a result of strong demand from buyers and limited supply. As of September 2017, the median home price in this zip code was $269,000. The primary drivers of home equity and home prices in this zip code are strong demand from buyers and limited supply. The combination of strong demand and limited supply has resulted in rising home values throughout the Pocono Lake area. In fact, according to Zillow’s Home Value Index (HVI), the median home value in this zip code has increased by 116% since 2013. This rapid growth has made this area one of the most desirable places to live in Pennsylvania. One factor that has helped drive up home values is the fact that there are relatively few homes available for sale in this area. According to Zillow’s Housing Market Report for September 2017, there were only 97 homes available for sale within a 10-mile radius of 18347 ZIP Code at that time. This scarcity has led to high demand from buyers who are willing to pay a premium for properties located here. In addition, many homeowners have taken advantage of low interest rates to finance their purchases with HELOCs (home equity loans). As a result, there is currently a shortage of homes available for sale compared to the number of people who want to buy them. Despite these positive factors, there are some risks associated with buying a home in this area. One risk is that prices could fall if more homes become available for sale or if interest rates increase again from their current low levels. Another risk is that homeowners could face difficulty refinancing their mortgages if interest rates rise or if they decide they want to sell their homes later on down the road. However, despite these risks, overall sentiment appears positive among buyers and sellers alike – which likely accounts for much of why prices have continued to rise over recent years."