94945, Novato, CA

Novato, CA is located in Marin County and has a population of about 57,000. The median household income in Novato is $101,000 and the median home value is $1.2 million. Home equity in Novato has increased significantly over the past few years, reaching an all-time high of $1.8 billion in 2016. This increase can be attributed to several factors, including strong job growth and low interest rates.

The majority of homes in Novato are owner-occupied, which contributes to the high home equity values. In addition, many residents have taken advantage of low interest rates to borrow against their home equity and invest in other assets such as stocks or bonds. As a result, home prices have been relatively stable compared to other parts of the country where housing prices have been increasing rapidly due to increased demand and limited supply.

Despite the recent increase in home values, there are still some areas of concern for homeowners in Novato. One issue is that there is a large number of vacant homes on the market that could potentially be used as investment properties or flipped for a higher profit. Additionally, there has been an increase in mortgage fraud cases recently which could lead to decreased home values if investors decide not to invest further into the area due to security concerns.