90254, Hermosa Beach, CA

The 90254 zip code of Hermosa Beach, CA is located in the South Bay region of Los Angeles County. The population of this zip code was estimated to be just over 100,000 as of 2016. Home prices in this zip code have been increasing steadily for the past several years, reaching a peak in 2017 before beginning to decline again in 2018. At present, home prices are approximately 10% below their peak value and appear to be stabilizing at this level.

One reason that home prices have increased so much in the 90254 zip code is that there is a high demand for housing here. The city of Hermosa Beach is located on the Pacific Coast Highway and has a large population of affluent residents who are interested in living near the ocean. Additionally, many new businesses and jobs have been established in this area over the past few years, which has led to an increase in demand for housing.

Another factor contributing to the high demand for housing in the 90254 zip code is the low unemployment rate. As of May 2019, unemployment rates were below 4% for both men and women within this zip code, which is considerably lower than average unemployment rates across California. This low unemployment rate has made it easier for people who want to buy homes to do so by making available more financing options and increasing access to creditworthy borrowers.

Despite these positive factors, there are also some challenges facing home buyers within the 90254 zip code. One issue that has arisen recently is an increase in price volatility – meaning that home prices can change rapidly from month-to-month or even from day-to-day. This makes it difficult for people who are planning on buying a home to know with certainty what their final costs will be. Additionally, there may be limited inventory available within certain neighborhoods at any given time due to high demand – which could lead buyers into bidding wars with each other when trying to purchase a property.