91340, San Fernando, CA

The San Fernando zip code of 91340 has a population of over 234,000 people and a median home value of $1,046,000. The city of San Fernando is located in the northeast corner of Los Angeles County and is bordered by the cities of North Hollywood to the north, Van Nuys to the east, Sylmar to the south, and Chatsworth to the west. The San Fernando Valley is one of the most affluent areas in California and has been for many years. Home values in this area have increased significantly over the past few years as more people have moved into this area and as investors have bought homes for investment purposes.

The average home value in San Fernando rose from $835,000 in 2009 to $1,046,000 in 2016 according to Zillow data. This represents an increase of almost 30%. Over this same period there was also an increase in population from 234,000 people to 248,500 people which would account for some portion of this increase. It is important to note that while home values are increasing rapidly there are still a large number of homes available for sale which indicates that there is still room for prices to rise even further.

There are a number of factors that contribute to increased home values including: an influx of new residents who are wealthier than average; an increase in demand due to strong economic conditions; and limited supply due to zoning regulations that protect established neighborhoods from development. While it is difficult to predict how high prices will continue to rise it seems likely that they will continue increasing at least modestly over the next few years.