93518, Caliente, CA

The Caliente zip code in the Inland Empire region of Southern California has seen a significant increase in home equity and home prices over the past few years. According to Zillow, the median home value in Caliente is $294,900, which is significantly higher than the statewide median of $217,500. The average home value in Caliente has also increased significantly over the past few years, reaching an all-time high of $362,200 in January 2018.

One reason for this surge in home values is that there are a lot of homes available for sale in Caliente. According to Trulia, there were 1,822 homes for sale as of March 2019. This is compared to 1,291 homes for sale as of March 2018 and 993 homes for sale as of March 2017. Additionally, many homeowners have been able to refinance their mortgages and obtain lower interest rates since the market crash in 2008. As a result, homeownership rates have increased significantly in Caliente over the past few years. As of May 2019, 68% of households living in Caliente were homeowners compared to 54% as of May 2018 and 45% as of May 2017.

Despite these positive trends, there are some risks associated with buying or owning a home in Caliente. One risk is that interest rates could rise again and make it more difficult for homeowners to afford their mortgages payments. Another risk is that the market could crash again and cause prices to decline precipitously. Finally, if you are not able to qualify for a mortgage because your credit score is low or you do not have enough money saved up equity on your house, you may be forced to sell your house at a lower price than you would like or live elsewhere altogether