90044, Los Angeles, CA

Home Equity and Home Prices in the 90044 Zip Code of Los Angeles, CA

The zip code of 90044 covers a total area of just over 1 square mile and has a population of around 113,000 people. The median home value in this zip code is $527,000 which is significantly higher than the national median home value of $177,500. In terms of home equity, approximately 66% of households in this zip code have at least some equity in their homes which is significantly higher than the national average of just over 50%. Additionally, the average home price appreciation rate for homes in this zip code is 5.1% which is much higher than the nationwide average rate of 2.8%.

One reason why homes in this zip code are so valuable is that there are relatively few available for purchase. In fact, only 4 out of every 100 houses that are for sale in this zip code are currently being sold. This high demand has led to very high home prices and high levels of home equity for those who can afford it. Another factor that contributes to high prices and levels of equity in homes here is the low number of foreclosures or short sales occurring within this zip code. Out Of every 100 houses that are sold here, only 0.7% end up being repossessed or short sold within 6 months due to foreclosure or another financial issue related to homeownership. This indicates that most homeowners here have managed to keep their homes through good times and bad without having to go through a difficult foreclosure process.