91402, Panorama City, CA

Home Equity and Home Prices in the 91402 Zip Code of Panorama City, CA

The 91402 zip code of Panorama City, CA has a median home value of $1,099,000. This is higher than the California median home value of $750,000. The 91402 zip code also has a higher than average percentage of homes with equity (56%). This indicates that homeowners in this area are more likely to have a significant amount of equity in their homes.

The average home price in the 91402 zip code increased by 7% from 2016 to 2017. This is slower than the national increase of 11%. The main drivers for this increase were strong demand and limited supply.

Panorama City is located in Los Angeles County and has a population of approximately 103,000 people. The majority (92%) of residents are white and 5% are Hispanic. There are also a small number (2%) who identify as Asian or Pacific Islander. The median age is 39 years old which is older than the California median age of 37 years old.

There are many factors that contribute to home prices and equity within an area such as population density, school district ratings, and proximity to amenities. However, one key factor that affects both home prices and equity is interest rates. When interest rates rise, it makes it more expensive for people to borrow money to buy a house or invest in property values. In addition, when interest rates rise there is often an increase in mortgage payments which can impact homeowners' ability to afford their homes over time