94606, Oakland, CA

The 94606 zip code of Oakland, California has a population of over 1 million people and is one of the most densely populated areas in the Bay Area. The median home value in this zip code is $525,000, which is higher than the statewide median home value of $424,900. In addition, the 94606 zip code has a high rate of home equity ownership - almost 60% of households have at least some equity in their homes. This high level of equity may be due to the strong economy and low interest rates in Oakland, as well as the fact that many residents are able to afford to make large down payments on homes.

Despite these positive factors, there are some challenges facing homeowners in the 94606 zip code. One issue is that there is a high level of foreclosure activity in this area - almost 20% of all homes here are currently owned by someone who has been through a foreclosure process. This may lead to increased prices for homes that are available for sale, as well as decreased demand for those homes. Additionally, there is a significant amount of vacant housing stock in this area - over 10% of all housing units here are vacant or occupied by renters who do not own their own homes. This lack of available housing may lead to increased prices and decreased availability for buyers looking to purchase homes in this area.