92707, Santa Ana, CA

The Santa Ana zip code of 92707 has a population of over 1 million people and is located in Southern California. The median home value in the zip code is $547,000, which is significantly higher than the national median home value of $205,000. In addition, the average home equity in the zip code is $241,000, which is also significantly higher than the national average of $130,000.

One reason for this high level of home equity in the Santa Ana zip code may be due to its high levels of homeownership. As of 2016, 84% of households in the zip code were owner-occupied compared to the national average of 63%. Additionally, homeownership rates are especially high in affluent areas like Santa Ana. This high level of homeownership may help to explain why home values are so high relative to other areas in California and nationwide.

Another factor that may contribute to high levels of home equity in Santa Ana are low levels of foreclosure activity. In fact, as of 2016 only 0.8%of homes in the zip code were foreclosed on compared to a nationwide rate of 1.9%. This low foreclosure rate may be due to strong economic conditions and tight lending standards throughout much of Southern California. It may also be attributable to proactive efforts by local governments and real estate agents to keep homes from being foreclosed on or sold at auction due to delinquent mortgages.

Overall, it appears that strong economic conditions and a high levelof homeownership are two key factors contributingto high levelsofhome equityinthe SantaAnazipcodeof92707. Lowlevels offreclosureactivityandproactiveeffortsbylocalgovernmentsandrealestateagentsmayalsoplaya role