92359, Mentone, CA

Mentone is located in the San Fernando Valley of Los Angeles County, California. According to the 2010 U.S. Census, the population of Mentone was 10,898. The median household income in Mentone was $102,527, which is significantly higher than the statewide median household income of $68,617. The percentage of households earning over $200,000 was also significantly higher than the statewide percentage of households earning over $200,000 at 16%.

The average home value in Mentone was $1 million as of September 30th, 2016 according to Zillow. This is significantly higher than the statewide average home value of $467 thousand and also significantly higher than the national average home value of $225 thousand. The percent increase in home values from 2015 to 2016 was 31%.

The 92359 zip code has a relatively high concentration of wealthy homeowners who are able to purchase homes for a significant amount above market value due to their elevated incomes and access to capital resources. In fact, as of September 30th 2016 there were 597 homes in this zip code that were valued at more than $5 million - accounting for almost one third (32%)of all homes in this zip code! This concentration of wealth has resulted in an increased demand for housing within this zip code which has driven up prices accordingly.

While there is certainly a lot of wealth concentrated within this particular zip code it should not be mistaken for an overall trend across all areas within Los Angeles County or even all areas within California as a whole - there are still plenty of lower-income families living within close proximity to some very expensive homes. In fact according to Zillow's analysis only 2%of homes in Mentone are valued at less than $100 thousand - which is much lower than both the statewide percentage (4%)and national percentage (7%).

Overall then while there may be some pockets within Los Angeles County where home values are extremely high relative to other parts of the state or country it should not be taken as an indication that overall prices have become out-of-control or unsustainable; on the contrary prices appear to be fairly stable and likely headed upwards over time given current trends and market conditions