91214, La Crescenta, CA

Home Equity and Home Prices in La Crescenta, CA

The La Crescenta zip code has a median home value of $1,099,000. This is higher than the California median home value of $600,000. The average home size in La Crescenta is 2,800 square feet. The percentage of homes that are owner-occupied is 66%. The percentage of homes that are renter-occupied is 34%. There are a total of 1,898 homes in the La Crescenta zip code.

The average monthly mortgage payment for a 2,800 square foot home in La Crescenta is $2,056. This means that homeowners have an average equity of $269,000 on their homes. Homeowners who have mortgages have an average debt-to-income ratio of 43%.

There has been an increase in the number of homeowners who have equity in their homes since 2007. In 2007 there were 1,711 homeowners with equity in their homes. In 2016 this number had increased to 1,898 homeowners. This indicates that there has been an increase in the amount of money that homeowners can borrow against their home equity to cover other expenses or to invest elsewhere.

Home prices have also increased since 2007 by 11%. This means that if you bought a house for $1 million in 2007 and sold it for $1.11 million five years later you would have made a profit of 10% on your investment over this time period (assuming no changes to your mortgage payments).