91706, Baldwin Park, CA

Home Equity and Home Prices in the 91706 Zip Code of Baldwin Park, CA

The home equity and home prices in the 91706 zip code of Baldwin Park, CA are very high. The median home value in this zip code is $366,000, which is more than triple the national median home value of $116,500. Additionally, the percentage of homes that are worth more than their original purchase price is also high in this zip code. For example, approximately 82% of homes in this zip code are worth more than their original purchase price. This is much higher than the national average of 54%.

One reason for this high level of home equity and home prices in the 91706 zip code of Baldwin Park, CA may be due to its strong economy. The unemployment rate here is only 4%, which is much lower than the national average unemployment rate of 6%. Additionally, wages are also relatively high here compared to other areas across the country. This may help to contribute to a higher level of wealth among residents in this area.

Despite these positive factors, there are some risks associated with owning a home in the 91706 zip code of Baldwin Park, CA. One risk is that interest rates could rise over time and make it difficult for homeowners to afford their mortgages. Another risk is that a housing market crash could lead to a decrease in property values and an increase in mortgage payments or loan defaults. However, overall it appears that homeownership rates and home equity levels remain high relative to other areas across America so long as there are no major economic or financial disruptions within the region.