92066, Ranchita, CA

Ranchita, CA 92066 is located in the Inland Empire region of Southern California. The 92066 zip code has a population of approximately 27,000 people and an average household size of 2.5 people. The median household income in the 92066 zip code is $59,000 and the median home value is $190,000.

The home equity and home prices in Ranchita are relatively high when compared to other areas of California. The median home value in Ranchita is nearly twice the statewide median home value of $130,000 and the median home equity value is more than three times the statewide median home equity value of $60,000. This high level of homeownership and equity may be due to several factors including low unemployment rates (4% as of May 2017), a strong economy with steady job growth over the past few years, and low interest rates that have kept mortgage rates low relative to historical averages.

Despite these positive factors, there are some challenges facing homeowners in Ranchita. One challenge is that there are relatively few available housing units relative to population growth (1% annualized). This shortage has led to increased prices and higher levels of homeownership in Ranchita compared to other areas of California. Another challenge facing homeowners in Ranchita is that there are a limited number of affordable housing options available for those who do not have a large down payment or who want to purchase a smaller property.