84060, Park City, UT

Park City, UT is located in Summit County, Utah and has a population of approximately 11,000. The 84060 zip code has a median home value of $1,828,000 and a median household income of $156,667. Park City's home equity and home prices are both high compared to the rest of the United States.

The average American home is worth $217,500 according to Zillow. Park City's average home value is almost three times as high at $1,828,000. This means that Park City residents have more than twice the amount of equity in their homes as Americans on average. Additionally, Park City's median household income is much higher than the national median ($156,667) meaning that homeowners in Park City are more likely to be able to afford a larger down payment and/or pay off their mortgage faster than most Americans.

One reason for this high level of equity may be due to the fact that many homes in Park City are owned by wealthy individuals or families who can afford to keep their homes relatively unchanged for long periods of time. Additionally, many people who live in Park City own multiple properties which gives them even more stability and security when it comes to their investments.

Despite these positive factors however there are some drawbacks associated with having such high levels of home equity and home prices. For one thing it can make it difficult for people who lose their jobs or experience other financial setbacks to quickly get back on their feet since they may not have enough money available to buy a new house or take out a loan on an existing one. Additionally it can be difficult for people who want to sell their homes if they don't believe they will be able to get as much money for them as they would if they lived elsewhere in the country or even internationally.