93921, Carmel By The Sea, CA

The home equity and home prices in the 93921 zip code of Carmel By The Sea, CA are very high. In fact, according to Zillow, the median home value in this zip code is $1,527,000. This is a far cry from the median home value of $145,000 that was reported for the entire state of California back in 2016.

There are a few reasons why the home values in this zip code are so high. First and foremost, Carmel By The Sea is a popular tourist destination. As a result, there is an abundance of wealthy residents who want to live here. Secondly, there is a lot of investment money flowing into this area due to all of the new development that has been happening here over the past few years. Finally, there is an extremely low unemployment rate in this zip code which helps to drive up prices even more.

Despite all of these factors contributing to high home values in this zip code, it's important to keep in mind that they aren't necessarily indicative of long-term stability or affordability. In fact, if you're looking for a place to buy or rent property within this area you'll likely need to be prepared to pay top dollar – especially if you're looking for something that's located within desirable neighborhoods like Monterey Heights or Pebble Beach Park II.