90025, Los Angeles, CA

Home Equity and Home Prices in the 90025 Zip Code of Los Angeles, CA

The zip code of 90025 covers a total area of just over 1 square mile and has a population of just over 102,000 people. The median home value in this zip code is $527,500 which is significantly higher than the statewide median home value of $213,500. In addition, the average home equity loan amount in this zip code is also significantly higher than the statewide average loan amount of $236,200. This indicates that there are a significant number of homeowners in this zip code who are able to access substantial amounts of credit to purchase their homes.

One reason why homeownership rates are high in this zip code is likely because there are a large number of affordable homes available for sale. In fact, according to Zillow’s 2018 Housing Trends Report, the percentage of homes that are affordable for buyers who make less than 80%of the area median income (AMI) is 37% which is much higher than the statewide average percentage of 22%. Additionally, there are a large number of luxury homes available for sale as well as modestly priced homes. This diversity makes it possible for many people to find an affordable home that meets their needs and desires.

Another factor that contributes to high homeownerhip rates in this zip code is likely due to low levels of foreclosure activity. According to RealtyTrac’s 2018 Foreclosure Report , only 0.4%of properties in this zip code were foreclosed on during 2018 which was much lower than both the statewide average foreclosure rate (1%) and the citywide average foreclosure rate (2%). This indicates that homeowners here have a strong sense of security when it comes to their property values and do not feel like they need to worry about being forced out by foreclosure proceedings.