92059, Pala, CA

The 92059 zip code of Pala, CA has a median home value of $269,000 and a median home equity value of $122,000. The 92059 zip code is located in the Inland Empire region of Southern California. The Inland Empire region is one of the most affordable regions in the United States.

The 92059 zip code has a population of approximately 116,000 people. Approximately 60% of the population are homeowners and 40% are renters. The majority (60%) of homeowners in the 92059 zip code have a mortgage and 30% have no mortgage. Homeowners in the 92059 zip code have an average credit score of 740 which indicates that they are qualified for a mortgage.

There has been an increase in home prices over the past five years in the 92059 zip code. Between 2012 and 2016, home prices increased by 11%. This was primarily due to an increase in demand for homes due to an increasing population and low interest rates. Over this same period, there was also an increase in inventory which led to slower growth rates for homes during this time period.

Home equity is important because it allows homeowners to borrow money against their homes to purchase additional property or pay off debts such as mortgages or credit card bills. Home equity can also be used as collateral when obtaining loans such as mortgages or car loans. Home equity is important because it provides financial stability and allows homeowners to weather difficult economic times better than those who do not own their homes outright