94706, Albany, CA

The 94706 zip code of Albany, CA has a median home value of $269,500. The home equity in this zip code is $128,000. This means that the average homeowner in this zip code has a net worth of $148,000. Home prices have increased by 5% over the past year and are projected to increase by another 6% over the next year.

The primary drivers of home prices in this area are job growth and low interest rates. Albany is located in the Central Valley which has seen strong job growth over the past few years. Additionally, there is a high demand for housing due to increasing population density and an aging population. Low interest rates are also contributing to higher home values as they make it more affordable for buyers to purchase homes.

There are some risks associated with buying a home in this area including rising interest rates and potential market crashes. However, overall, homeownership is considered to be a good investment as it provides stability and security for families.