92549, Idyllwild, CA

The Idyllwild zip code of 92549 has a population of just over 10,000 people and an average home value of just over $600,000. The median home value in the zip code is $527,500 which is significantly higher than the statewide median home value of $505,800. This high home value reflects the popularity of Idyllwild as a retirement destination and its proximity to major metropolitan areas such as Los Angeles and San Francisco.

Idyllwild's high home values are also attributable to its strong economy. The unemployment rate in the zip code is just 2.8%, well below the statewide unemployment rate of 5%. Additionally, the number of businesses in the area has increased by almost 20% since 2010, indicating that there is strong demand for housing and commercial space in Idyllwild.

Despite these positive factors, there are some challenges facing homeowners in Idyllwild. One issue is that there is a limited supply of homes available for sale in the area due to Idyllwild's popularity as a retirement destination. As a result, homeowners who want to sell their homes often have to wait months or even years for an offer from buyers who are willing to pay top dollar for properties in this desirable location.

Another challenge facing homeowners in Idyllwild is that prices have been increasing at a much faster pace than inflation over the past few years. This means that even though homeowners' incomes have not risen as quickly as prices have, they are still seeing their wealth decline relative to their peers across California and nationwide. In order to maintain their wealth status while living in Idyllwild, many homeowners are investing money into property values or purchasing additional assets such as stocks or bonds outside of their primary residence