18936, Montgomeryville, PA

Montgomeryville, Pennsylvania, is a suburban community located in Bucks County. According to the 2010 census, the population of Montgomeryville is 34,848. The 18936 zip code covers much of Montgomeryville and has a population of 22,919. Home prices in this zip code have increased significantly over the past several years and are now among the highest in the state.

The median home value in 18936 was $287,200 as of September 30th, 2016. This represents an increase of 116% from $156,000 as of September 30th, 2006. The average home value during this time period was $369,100 which indicates that prices have increased significantly faster than the statewide average rate of growth over this same period (54%).

The majority (78%) of homes in 18936 are owner-occupied while 22% are occupied by renters. The median household income for households residing in 18936 is $101,000 which is higher than both the statewide median household income ($76,594) and Bucks County median household income ($92,527). Despite having a higher median household income than many other areas within Bucks County , home prices in 18936 are still relatively high when compared to other counties within Pennsylvania . In fact , according to Zillow’s recent report on Pennsylvania’s “Hottest Housing Markets” , 18936 ranks as the 8th most expensive zip code in Pennsylvania with an average home value above $400K .

Despite being one of the more expensive zip codes within Pennsylvania , there appears to be strong demand for homes within18936. As evidenced by the rapidly increasing values seen over the past several years and continued demand even now despite elevated prices , it seems that people who live in18936 believe that their home is worth more than what it actually is . This may be due to factors such as proximity to major metropolitan areas ( Philadelphia and Baltimore are both less than an hour away), good schools (the local public school district has been ranked among some of the best in PA ), or simply because there are not many comparable properties available for sale within this area .

In spite of these factors however , there may be a potential bubble forming within18936 due to escalating housing values and limited supply . If interest rates begin to rise or if more families decide they no longer want to live near each other due to increasing costs , then prices could potentially decrease significantly which would likely lead to a decrease in demand for homes within this area .