92823, Brea, CA

The home equity and home prices in the 92823 zip code of Brea, CA are very high. The median home value in this zip code is $527,000, which is more than double the statewide median home value of $183,500. Additionally, the average home equity loan-to-value ratio in this zip code is 97%, which is significantly higher than the statewide average of 66%. This indicates that many homeowners in this zip code have a lot of equity in their homes.

There are several reasons why the home equity and home prices in this zip code are so high. First, Brea is a affluent suburb located near Los Angeles. As a result, there is a high demand for housing here and prices have risen accordingly. Second, Brea has been experiencing strong economic growth over the past few years and this has led to an increase in jobs and income opportunities. Finally, many homeowners in this zip code have taken advantage of low interest rates to borrow money against their homes' values to finance various expenses (such as renovations or buying a new house). All these factors have contributed to increased demand for housing and consequently increased prices.