92004, Borrego Springs, CA

The Borrego Springs, CA 92004 zip code has a population of approximately 10,000 people. The median household income in this zip code is $92,000 and the median home value is $1.2 million. Home equity in this zip code is high compared to other areas of the country. In fact, according to Zillow, the average home equity in the U.S. is only $269,000.

One reason for this high level of home equity is that Borrego Springs has a low rate of unemployment and a high rate of homeownership. Additionally, there are relatively few homes for sale in this zip code compared to other areas of the country. This means that there are more opportunities for people to buy and hold onto their homes for long periods of time.

Another factor contributing to the high level of home equity in this zip code is the low interest rates currently being offered by banks and lenders. These low interest rates make it possible for many people to borrow money against their homes and use that money to pay off other debts or invest it in stocks or bonds (which can provide higher returns).

Overall, it appears that homeownership and home equity are very important factors in determining wealth levels in Borrego Springs 92004 zip code. This may be one reason why housing prices here are so high relative to elsewhere in the country