92503, Riverside, CA

The Riverside, CA 92503 zip code has a population of over 210,000 people and a median home value of $246,500. The home equity in this zip code is high due to the large number of homes that are worth more than their original purchase price. In fact, according to Zillow, the Riverside 92503 zip code has the third highest home equity in California.

One reason for this high home equity is that many homes in the Riverside 92503 zip code were purchased at a time when prices were much higher than they are now. For example, in 2007, the median home value was $205,000 and by 2016 it had increased to $246,500. This increase in value has allowed many homeowners to borrow against their homes' equity and use the money for other purposes.

Another factor contributing to the high home equity in this zip code is that there are a lot of families who live here. According to NeighborhoodScout data, there are more families with children living here than anywhere else in Riverside County except for Moreno Valley. This means that there are more homes available for sale and that buyers have more opportunities to buy houses that are worth more than their original purchase price.

Overall, the high home equity in the Riverside 92503 zip code is a positive thing because it allows homeowners to borrow against their homes' value and use the money for other purposes. It also means that there are a lot of families living here who can afford to buy houses even if prices have decreased recently