13333, East Springfield, NY

East Springfield, NY is located in the 13333 zip code. According to the 2010 census, East Springfield has a population of 17,868. The median household income in East Springfield is $86,902. Home prices in East Springfield averaged $167,000 from 2000-2010.

East Springfield has a relatively low home ownership rate compared to other parts of the country. Only 49% of households own their homes in East Springfield while the national homeownership rate is approximately 70%. This may be due to the high cost of housing in East Springfield or because many people are renters who do not have an opportunity to purchase a home.

Despite this low homeownership rate, home prices have been increasing rapidly over the past decade. In 2000, home prices averaged $130,000 and by 2010 they had increased to $167,000. This increase in home prices has led to a large increase in homeowner equity (the value of a homeowner's house minus all outstanding debt). Home equity levels have increased by an average of 116% since 2000 which means that homeowners have seen their net worth grow by over half during that time period!

While there are some benefits to having high home equity levels (more stability and security), there are also some risks associated with having too much wealth concentrated in one place. If interest rates were to rise significantly or if the market for homes changed dramatically for any reason, homeowners could find themselves facing significant financial difficulties. However, overall it appears that residents of East Springfield are doing well financially and enjoy strong homeowner equity levels relative to other parts of the country.