91732, El Monte, CA

The El Monte zip code is located in the San Gabriel Valley region of Los Angeles County. As of the 2010 census, the population was 116,723. The median household income was $60,917. The median home value was $252,000.

As of March 2016, there were 95 properties listed for sale in the 91732 zip code and an average list price of $269,950. The majority (66%) of homes were single-family dwellings while 34% were multi-family units. The average size of a home was 2,811 square feet and the average price per square foot was $158.

In terms of home equity, as of March 2016, 68% of households in the 91732 zip code had at least some equity in their homes compared to 57% statewide and 56% nationally. Additionally, as of March 2016, the median home value in El Monte was more than three times greater than the national median home value ($225K vs $105K).

There are several factors that may contribute to this high level of equity including: a low rate of foreclosure activity (2%), a relatively low percentage (5%)of homeowners with negative equity relative to other markets nationwide and a relatively low percentage (4%)of homes with mortgages greater than 90%.

Despite these positive indicators it is important to keep in mind that there are still many households in El Monte who do not have any equity or only modest levels thereof in their homes. This is likely due to a number factors including: lower incomes relative to other markets nationwide; higher rates of unemployment; longer periods required to achieve homeownership; and lower levels or no access to affordable credit due to prior credit history issues or race/ethnicity/national origin factors.