92653, Laguna Hills, CA

The 92653 zip code of Laguna Hills, California has a median home value of $1,039,000 and a median home equity value of $269,000. These values are significantly higher than the statewide median home value of $467,500 and statewide median home equity value of $236,200. This is likely due to the high concentration of affluent residents in this zip code.

In addition to having a high median home value and median home equity value, the 92653 zip code also has a high rate of homeownership. Approximately 84% of households in this zip code own their homes compared to the statewide homeownership rate of 63%. This high rate of homeownership may be due to the affluent population in this area or it may be because there are more affordable homes available in this area than elsewhere in California.

Despite these positive indicators, there are some risks associated with owning a home in the 92653 zip code. The most significant risk is that house prices can decline over time due to factors such as inflation or interest rates. Additionally, if you have less than perfect credit you may not be able to get approved for a mortgage in this area or elsewhere in California. Finally, if you are not able to maintain your property or if it becomes damaged beyond repair you may face financial difficulties.