94507, Alamo, CA

The 94507 zip code of Alamo, CA has a median home value of $236,000. The majority of homes in this zip code are owned by individuals and families. The average household size is 2.5 people. Home values in this zip code have increased by an average of 5% each year since 2006. In addition, the percentage of homeownership in this zip code has increased from 66% to 74%.

One reason for the increase in home values is that there are relatively few homes for sale in this zip code. In fact, only 4 out of every 100 homes are for sale. This low number of available homes may be contributing to the increase in home values because buyers have more opportunity to negotiate a higher price when there are fewer competing offers.

Another factor that may be contributing to the increase in home values is the low unemployment rate in Alamo, CA. As a result, many people who would like to buy a home cannot do so because they cannot afford the mortgage payments or they do not qualify for a loan due to their credit score or other factors. Therefore, those who can afford to buy a home are more likely to do so and thus prices will rise as demand increases and there are fewer available homes for purchase.