18942, Ottsville, PA

Home Equity and Home Prices in the 18942 Zip Code of Ottsville, PA

There are a total of 1,898 homes in the 18942 zip code. Of these homes, there are 1,724 single-family homes and 158 condos. The median home value is $128,000. The median condo value is $101,000.

The average home equity in the 18942 zip code is $92,000. The average condo equity is $50,000. This means that homeowners in the 18942 zip code have a total net worth of $158,000 on average. Homeowners who own condos have a slightly higher net worth than homeowners who own single-family homes because condos typically have more value per square foot than single-family homes do. However, this difference is not very large and most people would be just as happy with either type of home equity situation.

The percentage of homeowners in the 18942 zip code who owe more on their mortgage than their home is worth has decreased over time from 29% in 2007 to 20% in 2016. This indicates that many homeowners are able to get ahead financially by refinancing their mortgages when their home values increase over time. This trend seems to be continuing into 2017 as only 16% of homeowners in the zip code report owing more on their mortgage than their home is worth currently. This suggests that Ottsville residents are generally confident about their housing market and believe that prices will continue to rise over time.