92661, Newport Beach, CA

The Newport Beach zip code 92661 has a population of about 214,000 people and an average home value of $1.2 million. The median home value in the zip code is $1.15 million, which is higher than the California median home value of $739,500. The percentage of homes in the zip code that are worth more than $1 million is 31%.

The Newport Beach area has seen strong growth over the past few years and there are many reasons for this. First, Newport Beach is a popular tourist destination with plenty of amenities and attractions to offer residents and visitors alike. Second, there is a large pool of affluent residents who are able to afford to live in this area. Finally, Newport Beach has been blessed with low unemployment rates and a strong economy overall.

Despite these positive factors, there are some challenges facing the Newport Beach area housing market. For one thing, there is limited land available for development in the area which could lead to increased prices over time if no new homes are built. Additionally, demand for housing in Newport Beach remains high despite recent economic conditions which could lead to bidding wars for available properties and higher prices for buyers who can afford them.