92281, Westmorland, CA

Westmorland, CA is located in the San Francisco Bay Area and has a population of just over 10,000. The median home value in the zip code is $1,295,000 and the median home equity is $269,000.

The average monthly mortgage payment for homes in Westmorland is $2,868. The average monthly rent for apartments is $2,100. Approximately 60% of households in Westmorland own their homes while the remaining 40% are renters.

There are a number of factors that affect home prices and home equity in Westmorland. These include: local market conditions (e.g., availability of inventory), interest rates (which affect both mortgages and rents), government regulations (e.g., zoning laws), and demographic trends (e.g., growth or decline in the population).

Overall, Westmorland homeowners have enjoyed strong home values and strong equity levels over the past several years. This has helped to make homeownership an attractive option for many residents here, even as rental prices have continued to rise modestly over that same time period. In addition, Westmorland's relatively low unemployment rate – 4% as of May 2017 – should continue to support housing demand over the long term