93212, Corcoran, CA

The Corcoran zip code, 93212, has a median home value of $224,000 and a median home equity of $101,000. This is significantly lower than the California statewide median home value of $478,500 and statewide median home equity of $142,500. The Corcoran zip code also has a much lower percentage of homes with mortgages (41%) than the statewide percentage (57%).

There are several factors that may contribute to the low home values in the Corcoran zip code. First, there is a high concentration of rental properties in this area which may depress prices. Second, there is a low population density in this area which may also depress prices. Third, there are few new homes being built in this area which may depress prices. Fourth, there is a high level of foreclosures and short sales in this area which may depress prices even further. Fifth, the market conditions for buying homes are generally more favorable than for selling homes in Corcoran so it takes longer for prices to recover after they decline. Sixth, Corcoran is located in an economically depressed region of California which may also contribute to low home values.