05253, East Dorset, VT

East Dorset, VT is located in the eastern part of the state and has a population of just over 2,000. The 5253 zip code covers a total area of just under 1 square mile and has a median home value of $209,000. Home equity in East Dorset has been on the rise for the past few years, with values increasing by an average of 7.5% annually between 2013 and 2017. This trend is likely to continue as interest rates remain low and there are limited opportunities for homebuyers to purchase new homes in this area.

Homeownership rates in East Dorset are high compared to most other parts of Vermont. In 2017, 94% of households were owner-occupied, which is significantly higher than the statewide average of 63%. This high rate of homeownership may be due in part to the low cost of living in East Dorset; according to Numbeo, the cost of living index for East Dorset is only slightly higher than that for Vermont as a whole. Additionally, many residents may be attracted to East Dorset's small town atmosphere and its proximity to major tourist destinations like Burlington and Montpelier.

Despite these positive factors, there are some challenges facing homeowners in East Dorset. One issue is that home values have increased faster than incomes over the past few years; this means that many residents are now underwater on their mortgages (i.e., their homes are worth more than their outstanding loans). Another challenge is that there are not enough new homes available for sale in East Dorset; as a result, prices have become increasingly stratified (i.e., there is an increasing divide between those who can afford to buy homes and those who cannot). Finally, although interest rates remain low overall, they could rise at any time if inflation picks up or if another financial crisis hits America's economy. In light of these risks, it may be important for homeowners in East Dorset to make sure they have adequate insurance coverage and savings accounts so they can weather any potential storms