92258, North Palm Springs, CA

The 92258 zip code of North Palm Springs, CA has a median home value of $1,078,000. This is a significant increase from the median home value of $715,000 in 2000. The average home value in this zip code has increased by over 60% since 2000. The 92258 zip code is also one of the most expensive zip codes in California.

One reason for the high home values in this zip code is the strong economy and low unemployment rates. Many people are buying homes and investing in this area because they believe it will continue to be a prosperous area. Additionally, many people are moving to North Palm Springs because it is a beautiful and peaceful city with plenty of amenities.

Another factor that contributes to the high home values in this area is the limited supply of homes available for sale. There are only a few hundred homes available for sale each year, which means that there is competition for these homes and prices tend to be higher than in areas where there are more houses for sale.

Despite the high prices and strong economy, not everyone can afford to buy or invest in a home in North Palm Springs. The median income level in this zip code is relatively low at $60,000 per year compared to other areas of California with similar housing costs. Therefore, many people who want to buy or invest in a home here must have substantial savings or borrow money against their future earnings (a mortgage).