18433, Jermyn, PA

Jermyn, PA is located in Chester County and has a population of just over 10,000. The zip code 18433 has a median household income of $92,500 and a median home value of $269,900. Home equity in this zip code is relatively high compared to other zip codes in the area. In fact, according to Zillow’s 2017 Home Value Index report, the home equity in the 18433 zip code is 5% higher than the national average.

One reason for this high level of home equity may be due to Jermyn’s strong economy. According to Forbes’ 2018 list of America’s Best Small Cities for Jobs and Businesses, Jermyn ranks #2 on the list behind only Scottsdale, AZ. This strong economy has led to increased demand for homes and consequently increased home values in Jermyn.

Another factor that may contribute to high levels of home equity in the 18433 zip code are low interest rates. Currently, interest rates are at historic lows which means that homeowners can borrow money against their homes at very low rates – an advantage that cannot be taken advantage of when interest rates are higher.

Despite these positive factors, there are also some risks associated with having high levels of home equity in Jermyn. For example, if the market conditions change and interest rates rise then borrowers could find themselves struggling to repay their loans at current levels. Additionally, if a homeowner decides to sell their home then they may face competition from buyers who are willing to pay more for properties in good economic climates like Jermyn's.