94549, Lafayette, CA

Home Equity and Home Prices in the 94549 Zip Code of Lafayette, CA

The home equity and home prices in the 94549 zip code of Lafayette, CA are very high. In fact, according to Zillow, the median home value in this zip code is $1,088,000. This is a far cry from some of the other zip codes in California that have median home values that are much lower. For example, the median home value in the 94736 zip code of Stockton is only $471,000.

One reason why the home equity and home prices in this zip code are so high is because there are a lot of affluent residents living here. According to NeighborhoodScout's analysis of census data from 2010-2014*, Lafayette has a population density of 5,824 people per square mile which is significantly higher than most other zip codes in California. In fact, only one other zip code (94609) has a population density that is higher than Lafayette's 5,824 people per square mile. This means that there are a lot of wealthy individuals living in this area which has led to an increase in demand for homes and consequently an increase in home equity and home prices.

Another factor that has contributed to the high home equity and home prices in this area is the fact that there are a lot of luxury homes available for sale here. According to Zillow's analysis*, over 60% of all homes currently for sale in Lafayette are classified as luxury homes which means that there is a lot of money available to be spent on homes here. Furthermore, since many affluent residents live here it isn't unusual for these luxury homes to sell quickly – often within just days or weeks – which also contributes to increased demand for housing stock and consequently increasedhome equity andhome prices.

Overall then, it can be said that both strong population density (due to its affluent residents) as well as high levelsof luxury housing availability (due to its high concentrationof expensive properties) have ledto elevatedhome equityandhome prices inthe 94549zipcodeof LafayetteCA.*