90241, Downey, CA

Downey, CA is located in the southeastern corner of Los Angeles County and is bordered by the cities of Bell, Downey, Norwalk, and Long Beach. The city has a population of over 209,000 people and covers an area of approximately 21 square miles.

The median home price in Downey was $269,900 as of September 2017. This represents a decrease from the previous year when the median home price was $291,500. The average list price for homes in Downey during this time period was $289,200.

The percentage of homes that are owner-occupied in Downey is approximately 68%. The percentage of homes that are rented is approximately 32%.

Downey has seen an increase in home equity since 2007 when the median home equity was $128,100. As of September 2017, the median home equity in Downey was $236,700. This represents an increase of over 153% since 2007!

One factor that may have contributed to this increase in home equity is the low interest rates that have been available throughout this time period. Low interest rates make it easier for homeowners to pay off their mortgages faster and can also help to boost home values. Additionally, there has been an influx of new residents into Downey who may be able to afford more expensive homes due to their higher incomes.

Despite these positive trends, there are still some areas where housing prices may be vulnerable to fluctuations due to factors such as market saturation or changes in economic conditions. For example, if there were a sudden increase in demand for properties within Downey due to increased job opportunities or immigration rates increasing then prices could potentially rise rapidly. Conversely if there were a decrease in demand for properties then prices could fall significantly as well.