94025, Menlo Park, CA

The Menlo Park zip code of 94025 has a median home value of $1,073,000 and a median home equity value of $814,000. These values are higher than the California statewide median home value of $478,500 and the national median home equity value of $217,200. The high home values in Menlo Park may be due to its affluent population and strong economy.

In terms of homeownership rates, the Menlo Park zip code is among the highest in California. As of 2016, 69% of households in the Menlo Park zip code were owner-occupied, which is above the statewide average ownership rate of 62%. Additionally, the Menlo Park zip code has a low vacancy rate (2%) which may contribute to its high homeownership rate.

One factor that may contribute to high home values in Menlo Park is its strong economy. The unemployment rate in Menlo Park as of March 2017 was 3%, below both the statewide unemployment rate (4%) and national unemployment rate (4.9%). Additionally, wages have been increasing rapidly in Menlo Park over recent years; as of March 2017, wages were up 10% from a year earlier. This strong economy may be contributing to high home values across all areas in which homes are priced; for example, housing prices have also been increasing rapidly across all parts of California since 2013.