90703, Cerritos, CA

The 90703 zip code of Cerritos, CA has a population of around 210,000 people and is located in the southern part of the Los Angeles metropolitan area. The median home value in this zip code is $269,500 which is significantly higher than the statewide median home value of $217,500. In addition, the percentage of homes in this zip code that are owner-occupied is significantly higher than the statewide percentage of owner-occupied homes at 66%. This indicates that there are a lot more people who own their homes in this zip code than in most other parts of California.

One reason why home values are so high in this zip code is because it has a low unemployment rate. The unemployment rate for Cerritos was 3.5% as of September 2016 which is much lower than the statewide unemployment rate of 5.1%. This means that there are more jobs available for people who want to buy or sell homes here compared to other parts of California. Additionally, Cerritos has a good economy with a GDP per capita that is above the state average. These factors all contribute to high home values and stable prices in this area.