91916, Descanso, CA

The 91916 zip code of Descanso, California is located in the San Gabriel Valley and has a population of about 21,000. The median home value in this zip code is $527,000 and the median household income is $113,500. About one-third of the households in this zip code are owner-occupied while two-thirds are occupied by renters.

The average commute time to work for residents in this zip code is 26 minutes. The percentage of residents who own their homes outright is about 60%, while the percentage who are mortgage holders is about 40%. About one-third of all households in this zip code have a mortgage worth more than 80% of their home's value.

There are a number of factors that contribute to the high home values in this zip code. First, there is a high demand for housing due to the large population and proximity to major metropolitan areas such as Los Angeles and San Diego. Second, there are relatively few homes available for sale compared to other areas within similar price ranges, which has led to increased prices. Finally, many homeowners have taken advantage of low interest rates over the past few years and have been able to borrow more money against their homes than they would have been able to if rates had been higher at the time they purchased them.