93304, Bakersfield, CA

Home Equity and Home Prices in the 93304 Zip Code of Bakersfield, CA

The 93304 zip code of Bakersfield, CA has a median home value of $157,500. This is higher than the statewide median home value of $142,000. The 93304 zip code also has a lower than average home equity loan-to-value ratio (LTV) at 73%. This means that homeowners in this zip code have more equity in their homes than homeowners statewide.

Despite these positive indicators, there are some caveats to consider when assessing home equity and home prices in the 93304 zip code. First and foremost, many homeowners in this area are still underwater on their mortgages - meaning that they owe more on their homes than their homes are worth. Second, while the LTV is low overall, there are pockets of neighborhoods within this zip code with high LTVs (above 80%). These high LTV areas may be indicative of overvalued housing markets or an unstable economy.

Overall though, it appears that homeownership rates and home equity levels are high in the 93304 zip code and that there is considerable opportunity for growth within this market segment. If you're interested in buying or selling a home in the93304 zip code, be sure to consult with a qualified real estate agent to get an accurate estimate of your chances for success.