23185, Williamsburg, VA

The 23185 zip code of Williamsburg, VA has a median home value of $269,500. The home equity in this zip code is $128,000. This means that the average homeowner in this zip code has over two-thirds of their home equity invested in their home. This is a higher percentage than the national average of 62%.

The high level of home equity in this zip code may be due to the many affluent residents who live here. The median household income in this zip code is $110,000, which is well above the national median income of $53,046. Additionally, there are many college graduates living in this area who may have saved money during their undergraduate years and invested that money into their homes.

Another factor that could contribute to the high level of home equity in this zip code is the low rate of foreclosure activity here. In fact, only 2% of homes here are currently for sale and just 0.5% are listed for less than a month. This low level of foreclosure activity may be due to the strong economy and stable housing market conditions here.

Despite these positive factors, there are some risks associated with having high levels of home equity in your ZIP Code. For example, if interest rates rise or if there is a recessionary period where people lose their jobs or cannot afford to make mortgage payments on their homes, they may find themselves facing foreclosure proceedings or having to sell their homes at a lower price than they originally paid for them.