Learning your ZIP code is prone to registered criminal offenders is concerning, to say the least, and the home value risks may be equally upsetting. Fortunately for New York residents, 61 percent of homes in New York ZIP codes have a very low offender index on RealtyTrac’s new Registered Criminal Offender Index. High offender indexes = lower value and equity According to the report, markets with higher offender indexes tend to have lower home values and equity. The average home value for the first quarter of 2016 in ZIP codes with a very low offender index was more than three times higher than homes in ZIP codes with a very high offender index. In the very low offender ZIP codes, including many in New York, the average home values were $512,841 versus $157,844 in the very hi...
- According to the report, markets with higher offender indexes tend to have lower home values and equity.
- The average median sales price last year for homes in very low offender ZIP codes was three times higher than homes in very high ZIP codes -- $450,925 versus $126,205.
- Home price appreciation, or HPA, is actually stronger on a one-year and five-year scale in ZIP codes with a higher offender index than the safer ZIP codes in the country.
- RealtyTrac also found ZIP codes with a very high offender index were 61 percent higher in foreclosure rates than ZJIP codes with a very low index.