90506, Torrance, CA

The 90506 zip code of Torrance, CA has a median home value of $527,000 and a median home equity value of $236,000. The 90506 zip code is one of the more expensive zip codes in Los Angeles County. The average home price in the 90506 zip code has increased by over 20% since 2007. In addition, the average home equity value in the 90506 zip code has increased by over 30%.

One reason for this increase in home values may be due to the increasing demand for housing in Torrance. The population of Torrance has grown by over 10% since 2007 and is projected to grow even further by 2020. Additionally, many new homes are being built in Torrance which may also contribute to the increase in home values.

Another factor that may contribute to the increase in home values is low interest rates. Interest rates have been relatively low for a long period of time which may have encouraged people to buy homes rather than rent them. Low interest rates can also encourage people to borrow money to purchase a home rather than use their savings or take out a loan on another property.

Despite these factors, there are still some areas within the 90506 zip code where prices are lower than other areas within Los Angeles County. This could be due to limited supply or slower growth within certain neighborhoods within the 90506 zip code.