92313, Grand Terrace, CA

The Grand Terrace zip code of 92313 has a population of around 30,000 people and is located in the San Fernando Valley region of Los Angeles County. The median home value in this zip code is $527,000 which is significantly higher than the statewide median home value of $218,500. In addition, the percentage of homes that are owner-occupied in this zip code is much higher than the statewide percentage of owner-occupied homes at 63%. This indicates that there are a lot more households in this zip code that are able to leverage their home equity to purchase additional property or take out loans.

One reason why home values in this zip code are so high is because there is a high demand for housing in Grand Terrace. The city has been designated as a "Smart Growth" city and has implemented many initiatives aimed at improving the quality of life for its residents. These initiatives include investments in public transportation, parks and recreation facilities, and economic development projects. As a result, Grand Terrace has seen an influx of new residents who are looking for quality urban living without having to sacrifice affordability.

Another factor that contributes to high home values in Grand Terrace is the fact that it is an affluent area. The median household income here exceeds $100,000 which means that most households have enough money saved up to purchase a house outright or take out a loan on top of their existing equity. Additionally, many homeowners here have invested in improvements to their properties such as new roofs or landscaping which also adds value to their homes.