91354, Valencia, CA

Valencia, CA is located in the East Bay region of the San Francisco Bay Area. The city has a population of approximately 117,000 and is home to several universities including UC Berkeley and Stanford. Home prices in Valencia have increased significantly over the past few years, reaching a median price of $811,000 in March 2018. This increase has been driven by strong demand from both buyers and sellers, as well as limited supply.

The majority of homes in Valencia are owner-occupied. The city has seen an influx of young professionals who are looking for affordable housing close to their jobs. Additionally, many retirees have moved to Valencia due to its low cost of living and excellent public schools. As a result, there is strong competition for available homes which has driven up prices significantly.

Despite the high prices, Valencia remains one of the most affordable cities in California with a median household income of $106,000. This low cost of living is attributable to several factors including the city's proximity to major metropolitan areas (e.g., San Francisco and Oakland) as well as its strong economy which has been bolstered by several large companies headquartered in Valencia (e.g., Intel and eBay).