91342, Sylmar, CA

The 91342 zip code of Sylmar, CA has a median home value of $527,000 and a median home equity value of $237,000. The average home price in the 91342 zip code has increased by 16% over the past year. The average home equity value in the 91342 zip code is higher than the California statewide average of $222,500. This indicates that there is an abundance of demand for homes in the 91342 zip code and that buyers are able to afford more expensive homes than elsewhere in California.

There are many factors that contribute to the high demand for homes in the 91342 zip code. One reason is that Sylmar is located within close proximity to Los Angeles, which is one of the most populous cities in America. Additionally, Sylmar has a strong economy with a high rate of employment and low rates of poverty. These factors have led to an influx of families and individuals who are looking for affordable housing options near major metropolitan areas.

Despite these positive trends, there are some challenges facing buyers in the 91342 zip code. One issue is that wages have not kept pace with inflation over the past few years, which has made it more difficult for people to afford a house on their own income alone. Additionally, there is limited inventory available for sale in the 91342 zip code due to its high demand and popularity among buyers. As a result, prices tend to be higher than they would be if there were more available houses for sale at lower prices.