90274, Palos Verdes Peninsula, CA

The Palos Verdes Peninsula is a well-known and affluent area in Southern California. Home prices here are some of the highest in the state, and home equity is also very high. In fact, according to Zillow, the 90274 zip code has the third-highest home equity in all of California.

One reason for this high level of home equity is that many people on the peninsula own their homes outright. Only about one in five households here are renters, which is much lower than average for California. This means that homeowners have a lot of control over their property values and can easily increase or decrease their worth through normal market fluctuations.

Another factor contributing to high home values on the peninsula is its proximity to Los Angeles. Many people who live here commute into downtown LA every day, which increases demand for housing stock and drives up prices. Additionally, many wealthy people choose to live on the peninsula because it offers great weather year-round and plenty of recreational opportunities.