33428, Boca Raton, FL

The 33428 zip code of Boca Raton, FL has a median home value of $527,000 and a median home equity value of $236,000. The average home size in this zip code is 2,717 square feet. This means that the typical home in this zip code is about 1/3 the size of the average home in the United States.

The majority (86%) of homes in this zip code are owner-occupied. This is much higher than the national homeownership rate of 63%. One possible explanation for this high percentage of owner-occupation may be that many people who live in this zip code are wealthy enough to afford to own their homes outright, rather than rent them.

Another factor that could contribute to the high percentage of owner-occupation in this zip code may be the fact that there are relatively few rental properties available here. In fact, only 4% of homes here are rented out. This could be because there are not many affordable rental properties available in Boca Raton, or it could be because most people who live here prefer to live in their own homes.

Despite being a relatively wealthy area, Boca Raton does not have an extremely high rate of home prices compared to other parts of the country. The median price for homes here is $527,000 which is about half the median price for all U.S. ZIP codes ($1 million). Additionally, while home equity values tend to be higher here than elsewhere in Florida (median equity value=$236k), they are still lower than values found elsewhere in America (median equity value=$500k).

Overall, it seems that homeownership rates and home prices are high relative to other areas within Florida and America overall due primarily to factors like population density and limited availability of rental properties - both factors which may make owning a house more financially feasible for some people living within this area