95002, Alviso, CA

The 95002 zip code of Alviso, CA has a median home value of $527,000 and a median home equity value of $236,000. These values are significantly higher than the statewide median home value of $206,500 and statewide median home equity value of $225,100. The reason for this discrepancy is likely due to the high concentration of affluent households in the 95002 zip code. In fact, over 60% of households in the 95002 zip code have an annual income above $200,000. This high level of affluence has led to strong demand for homes in the 95002 zip code and consequently increased prices.

Another factor that contributes to high home values in the 95002 zip code is its low population density. There are only 2,811 people living in the 95002 zip code per square mile which is far less than most other areas of California. Consequently, there is more land available for housing development which drives up prices. Additionally, there are relatively few homes for sale in the 95002 zip code which also contributes to elevated prices.

Despite these factors, not all homeowners in the 95002 zip code have benefited from rising home values. While nearly half (48%)of homeowners report having at least some equity in their homes compared to just 27% statewide average homeowners have equity in their homes., many homeowners who do not have significant equity are struggling with debt payments or owe more on their mortgages than their homes are worth. This indicates that while many residents enjoy high levels of wealth and security when it comes to their homes, others face significant challenges when it comes to paying off debts or maintaining a positive net worth despite stagnant housing prices