93258, Porterville, CA

The Porterville zip code of 93258 has a population of approximately 27,000 people. The median household income in this zip code is $50,000, and the median home value is $175,000. Home equity in this zip code is relatively high compared to other areas of the country. In fact, according to Zillow’s 2018 Home Value Report, the Porterville zip code has a home equity index of 111%. This means that homes in this area are worth more than their mortgages.

One reason for this high level of home equity is that Porterville is a desirable place to live. The city has a low crime rate and excellent schools. Additionally, there are many jobs available in the area. This combination makes it possible for many people to pay off their homes quickly and have plenty of money left over for other expenses.

Another factor contributing to the high level of home equity in Porterville is the low interest rates currently being offered by lenders. Interest rates have been slowly declining since the financial crisis hit in 2008, and they are currently at historic lows. This means that it is now easier for people to borrow money and buy homes than ever before.

Despite these positive factors, there are some risks associated with having too much home equity. If interest rates increase or if the market crashes, homeowners could find themselves struggling to pay their debts back quickly enough. Additionally, if someone loses their job or experiences other financial difficulties, they may be unable to afford their mortgage or property taxes anymore. In these cases, homeowners could face foreclosure or bankruptcy proceedings