18640, Pittston, PA

The 18640 zip code of Pittston, PA has a median home value of $92,000 and a median home equity value of $51,000. This is significantly lower than the national median home value of $177,500 and the regional median home equity value of $86,700. The primary factors contributing to these low values are the high levels of foreclosure and abandonment in this area, as well as the general decline in housing prices across Pennsylvania over the past few years.

Despite these challenges, there are some homeowners in the 18640 zip code who have been able to benefit from rising home prices over the past few years. In fact, according to Zillow’s Home Value Index (HVI), approximately 10% of homes in this zip code are worth more than their original purchase price. This percentage is higher than both the regional average (7%) and national average (6%). Additionally, Zillow’s HVI indicates that Pittston homes have seen an annualized growth rate of 2.5% over the past three years – much faster than either Pennsylvania or national averages.

Despite these positive trends, it is important to note that not all homeowners in this zip code have been able to benefit from rising prices – particularly those who were impacted by the recent housing market downturn. Approximately one-third (32%)of homes in this zip code are currently underwater – meaning that their current market value is less than their outstanding mortgage balance. This percentage is significantly higher than both Pennsylvania (21%) and national averages (17%). Additionally, approximately one-quarter (26%)of homes in this zip code are considered “underwater” by Zillow’s standards – meaning that they have lost more money since they were purchased than their current market value would suggest.