93311, Bakersfield, CA

Home Equity and Home Prices in the 93311 Zip Code of Bakersfield, CA

The home equity and home prices in the 93311 zip code of Bakersfield, CA are both relatively high when compared to other areas of the country. The median home value in this area is $217,500, which is significantly higher than the national median home value of $161,700. Additionally, the average home equity loan amount in this zip code is $146,000, which is also significantly higher than the national average loan amount of $130,000. This indicates that many residents in this area have a significant amount of equity in their homes.

Despite these high values, there are still a number of homeowners who are struggling to maintain their homes. Approximately 20% of homeowners in this zip code are currently delinquent on their mortgage payments or owe more on their mortgage than their home is worth. This indicates that there may be some potential risks associated with investing in homes within this area. However, given the high levels of equity present among homeowners in this zip code, it may still be a good investment choice for those who are prepared to tolerate some risk.