90040, Los Angeles, CA

The 90040 zip code of Los Angeles, CA has a median home value of $564,000 and a median home equity of $236,000. This is significantly higher than the statewide median home value of $478,500 and the national median home equity of $177,200. The 90040 zip code also has a high percentage of homeowners with a mortgage (77%) and a low percentage of homeowners with no mortgage (14%). These high percentages are likely due to the high demand for housing in Los Angeles and the relatively low cost of mortgages.

Despite these positive trends, there are some challenges facing homeowners in the 90040 zip code. The highest percentage of homeowners who report that their property is worth less than it was when they bought it is in this zip code (15%). This may be due to rising interest rates or increasing prices in surrounding areas. Additionally, while 78% of homeowners report that their property values have increased since they bought it, this figure drops to 54% for those who have owned their homes for less than five years. This suggests that even long-time residents may not be immune to market fluctuations.