18847, Susquehanna, PA

Home Equity and Home Prices in the 18847 Zip Code of Susquehanna, PA

There are many factors that contribute to home equity and home prices. The most important factor is the market conditions. The 18847 zip code of Susquehanna, PA has a relatively low population density which allows for more buyers and sellers to participate in the market. Additionally, there is a moderate amount of available housing which also contributes to high home values. In addition, Susquehanna, PA has a strong economy with good job opportunities. This leads to more people able to purchase homes and increase home values. Finally, Susquehanna, PA has a low interest rate environment which also contributes to high home values.

According to Zillow’s 2018 Home Value Index report for Pennsylvania’s 18847 zip code ( Susquehanna), the median home value was $269,200 and the median rent was $1,050/month. These figures indicate that there is strong demand for homes in this zip code and that prices are rising rapidly. Over the past year (2017-2018), the median home value increased by 10% while the median rent increased by 7%. This indicates that there is strong demand for homes in this area and that prices are likely going to continue increasing in the near future.

Another important factor affecting home equity and home prices is mortgage rates. According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) data from January 2019, mortgage rates were 4% for 30-year fixed-rate mortgages and 3% for 15-year fixed-rate mortgages. These rates indicate that it is still possible to obtain affordable financing for purchasing ahome in this area. Therefore, even if you cannot afford a whole house at once you may be able to purchase an additional property or refinance your existing mortgage into a more affordable rate over time