90405, Santa Monica, CA

Home Equity and Home Prices in the 90405 Zip Code of Santa Monica, CA

The zip code of 90405 in Santa Monica, California has a median home value of $1,098,000. This is higher than the state median home value of $735,000 and the national median home value of $177,500. The majority (83%) of homes in this zip code are owned by individuals while 17% are owned by families. The average number of bedrooms in homes in this zip code is 3.5 which is lower than the state average of 3.8 and the national average of 3.6. The average number of bathrooms in homes in this zip code is 2 which is lower than the state average of 2.9 and the national average of 2.7

The percentageage breakdown for home values shows that single family homes have a median value ($1,098,000) that is higher than both family-owned (17%) and multi-family (14%) homes combined . Additionally , condos have a median value ($527,500) that falls below both single family (~$1 million) and multi-family (~$650k) properties combined .

Income levels vary greatly across neighborhoods within this zip code with some having significantly higher incomes (~$2 million+) while others have much lower incomes (~$200k). However , regardless if you live in an affluent or low income neighborhood , on average homeowners within this zip code earn more money annually than renters . In fact , homeowners within this zipcode earn an annual income that is almost double that earned by renters . This discrepancy can be attributed to several factors including: larger down payments required to purchase a home as well as property taxes which are typically paid monthly rather then annually by homeowners .