19343, Glenmoore, PA

The 19343 zip code of Glenmoore, PA is located in Montgomery County and has a population of approximately 25,000. The median household income in this zip code is $101,000 and the median home value is $209,000. The percentage of homes that are owner-occupied is 73% and the percentage of homes that are renter-occupied is 27%.

Home equity in Glenmoore, PA has increased significantly over the past several years. In 2012, the home equity in this zip code was $146,000. By 2016, the home equity had increased to $269,000. This increase can be attributed to both rising home prices and increasing levels of household debt. In 2016 alone, household debt rose by $126 billion nationwide. This increase in debt levels has led to an increase in demand for housing products such as mortgages and home equity loans. As a result of these trends, homeownership rates have continued to rise in Glenmoore over the past few years.

Despite these positive trends, there are some risks associated with increasing levels of home equity in Glenmoore. One risk is that if interest rates rise or if there are any other economic shocks that negatively impact housing values in this area, homeowners could find themselves struggling to repay their debts. Another risk is that if borrowers lose their jobs or experience other financial difficulties during repayment periods for their mortgages or home equity loans, they may be unable to meet those obligations and face foreclosure proceedings or other financial penalties.