90049, Los Angeles, CA

The 90049 zip code of Los Angeles, CA has a median home value of $527,000 and a median home equity value of $236,000. The 90049 zip code is one of the most expensive zip codes in Los Angeles and has a high home price to income ratio. This means that there are a lot of homes in the 90049 zip code that are worth a lot more than what people are able to pay off with their monthly incomes.

One reason why the 90049 zip code is so expensive is because it is located in one of the most desirable areas in Los Angeles. The area around the 90049 zip code is filled with luxury homes and apartments, which means that there are a lot of people who want to live there. Additionally, many people who live in the 90049 zip code have high incomes because they work in high-paying jobs downtown or in Hollywood. Therefore, there is always demand for homes in this area and prices continue to rise even though there may be some supply available.

Another reason why prices have been rising so much in the 90049 zip code is because interest rates have been low for quite some time now. This has made it very difficult for people who want to borrow money to buy a home since they need to pay back a higher amount of money over time due to interest rates being so low. In addition, many people who do borrow money to buy a home end up defaulting on their loans due to how expensive it has become to own property here. This has caused banks and other lenders to become more cautious about lending money towards buying property, which has only increased demand for properties within this particular area.