19111, Philadelphia, PA

The 19111 zip code of Philadelphia, PA has a median home value of $136,000 and a median home equity value of $101,000. This is higher than the national median home value of $123,500 and the regional median home equity value of $92,700. The 19111 zip code has a lower than average percentage of homeowners with mortgages at 46%. This is higher than the regional percentage of homeowners with mortgages at 41% but lower than the national percentage of homeowners with mortgages at 56%. The 19111 zip code also has a higher percentage of homeowners who have taken out HELOCs (home equity loans) at 14% compared to the regional percentage of homeowners who have taken out HELOCs at 10%.

There are several factors that may contribute to these high values in the 19111 zip code. These include strong economic conditions that have led to an increase in home sales and prices, low interest rates that make it more affordable to borrow money for homes, and relatively low levels of unemployment which may lead people to believe they can't afford a house without taking on additional debt. Additionally, many people in this area are wealthy enough that they don't need as much money as they would if they were living elsewhere in the country.