10312, Staten Island, NY

The 10312 zip code of Staten Island, NY has a median home value of $242,000 and a median home equity value of $128,000. The 10312 zip code ranks #1 in terms of both home values and home equity values. In addition, the 10312 zip code has the highest rate of homeownership in the borough of Staten Island at 95%. This high rate of homeownership is likely due to the low rates of crime and unemployment in this area.

The average monthly mortgage payment for a house in the 10312 zip code is $2,711 which is lower than the boroughwide average monthly mortgage payment of $3,868. The lower mortgage payments are likely due to the high rate of homeownership in this area as well as low rates on mortgages. Additionally, there are many affordable homes available in this area which may be appealing to potential buyers.

Despite having a high rate of homeownership and relatively low monthly mortgage payments, it is important to keep in mind that buying a house in the 10312 zip code may not be a good financial decision if you do not have enough money saved up for a down payment or if you are not able to qualify for a traditional loan. Additionally, if interest rates increase or if the market conditions change significantly (e.g., an economic recession), buying a house could become more expensive than renting an apartment or living with roommates.