91792, West Covina, CA

The 91792 zip code of West Covina, CA has a population of over 100,000 people and is located in the Inland Empire region. The median home value in this zip code is $269,900 which is above the California median home value of $217,500. The average home equity in this zip code is $122,700 which is above the California average home equity of $100,700. This indicates that homeowners in this zip code have more than twice the amount of equity in their homes as homeowners statewide.

The reason for this high level of equity may be due to the fact that West Covina has a low rate of foreclosure activity compared to other parts of California. In fact, only 0.5% of all homes in this zip code are currently foreclosed on which is much lower than the statewide foreclosure rate of 2%. Additionally, West Covina has a low unemployment rate which may also contribute to higher levels of equity among homeowners here.

Despite these positive factors however, there are some challenges facing homeowners in the 91792 zip code. One such challenge is that interest rates are currently at historic lows which means that borrowers are paying more for their mortgages than they would have otherwise been able to do. Additionally, although West Covina has a low foreclosure rate it does not mean that all homeowners here are immune from experiencing financial difficulties down the road. For example, many residents here may be underwater on their mortgages meaning that they owe more on their homes than what it's worth and could potentially face foreclosure if they cannot find a way to make payments on their mortgage while still meeting other financial obligations such as rent and bills.