94580, San Lorenzo, CA

The San Lorenzo zip code of 94580 has a median home value of $527,000 and a median home equity value of $236,000. These values are significantly higher than the California statewide median home value of $205,800 and the national median home equity value of $177,200. The San Lorenzo zip code is also significantly higher than the California statewide median home value and the national median home equity value in both percentage terms (47% and 54%, respectively) as well as dollar terms ($227,600 and $157,200).

One possible explanation for these high values is that the San Lorenzo zip code is located in an affluent area. The 2015 American Community Survey showed that the per capita income in the zip code was over twice as high as the statewide average ($101,500 vs. $41,100) and nearly four times as high as the national average ($39,900). Additionally, according to Zillow’s 2016 Home Value Index report, San Lorenzo ranks #1 out of 522 U.S. ZIP codes in terms of housing values relative to income. This indicates that there is a large demand for homes in this area – which could lead to higher prices – and that there are few competing buyers (or sellers) who can drive down prices.

Despite these factors – or perhaps because of them – homeownership rates in San Lorenzo are among the highest in California (77%). This suggests that many people who live in this zip code are confident about their ability to maintain their homes long-term despite rising prices. In addition to being confident about their ability to stay homeowners for long periods of time, many residents may also be attracted to San Lorenzo’s close proximity to major cities such as Berkeley and Oakland (both within 30 minutes), its abundance of amenities (including restaurants and shopping), and its low crime rate.