94602, Oakland, CA

Home Equity and Home Prices in the 94602 Zip Code of Oakland, CA

The 94602 zip code of Oakland, CA has a median home value of $260,000. This is higher than the statewide median home value of $225,000. The 94602 zip code also has a higher than average percentage of homes with equity (77%). This means that homeowners in this zip code have more money available to them to use as they see fit. Additionally, the average home price in this zip code has increased by 9% over the past year. This indicates that there is strong demand for housing in this area and that prices are likely to continue rising.

There are several factors contributing to the high home values and equity rates in the 94602 zip code of Oakland. First, Oakland is one of the most desirable cities in California and has a large population base that is growing rapidly. Second, many homes in this area were built before 1978 which means they are considered vintage properties and have high resale values. Finally, there is strong demand for housing due to increasing incomes and employment opportunities in Oakland. All these factors indicate that homeownership rates and home values are likely to continue rising in the 94602 zip code over time.