94963, San Geronimo, CA

The San Geronimo zip code 94963 has a population of about 10,000 people and an average home value of $275,000. The median home value in the zip code is $269,500. Home equity in the zip code is relatively high compared to other areas of the country. In fact, according to Zillow, the median home equity in San Geronimo is $141,500. This means that almost half of all homes in the zip code have more than their original purchase price remaining on their mortgage.

One reason for this high level of home equity is that there are a lot of expensive homes in the area. According to Trulia, the average list price for a home in San Geronimo is $319,000. This means that even if you only have 20% down on your purchase and pay monthly interest rates of 3%, you will still have over $100,000 left on your mortgage after five years! This amount of money can be used to pay off other debts or saved for future expenses.

Another reason why home equity is high in San Geronimo is because there are a lot of people who own their homes outright or who have low-interest mortgages. In fact, according to Zillow’s Housing Finance Data report from 2016 (the most recent year available), 49% of households in San Geronimo own their homes outright and only 7% owe more than 30% on their mortgages! These low levels of debt mean that homeowners can use their home equity as a source of financial stability should something happen to their job or income situation.

Overall, it seems that homeownership and strong levels of home equity are common in San Geronimo – which may be one reason why prices are so high here relative to other areas across the country. If you are looking for a place where you will likely be able to keep your house long term and don’t need much space – consider living in San Geronimo!