11427, Queens Village, NY

The 11427 zip code of Queens Village, NY is located in the borough of Queens and has a population of approximately 25,000. The median household income in this zip code is $101,000 and the median home value is $569,500. Over the past five years, home prices have increased by an average of 8.4% while the rate of inflation has been 2.8%.

One reason for the high rate of home price appreciation in this zip code is that there are a large number of affluent residents who are able to afford to buy homes in this area. In addition, many homeowners have taken advantage of low interest rates and refinanced their homes multiple times over the past few years. As a result, there is a high demand for housing stock in this area and property owners are able to profit from these conditions by charging higher prices than they would if market conditions were more stable.

Despite the strong demand for housing stock in this area, there are some potential risks that could impact home prices in 11427 over the next few years. For example, if interest rates rise significantly from their current levels or if there are any major changes to legislation that affects mortgages or real estate markets generally, then homeowners may find it harder to sell their homes at current prices. Additionally, if economic conditions worsen significantly throughout New York City or elsewhere within Queens Village then buyers may be less likely to invest money into purchasing homes here due to fears that they may not be able to sell them at a later date for a significant profit.