95012, Castroville, CA

Castroville, CA is located in the 95012 zip code. According to the 2010 census, the population of Castroville was 2,816. The median household income in Castroville was $60,914. Home equity and home prices in Castroville are important factors to consider when evaluating a potential home purchase or investment.

According to Zillow, as of March 2016 the median home value in Castroville was $269,000. This is above the California statewide median home value of $217,500 but below the national median home value of $247,900. The average monthly mortgage payment for a house in Castroville was $1,521 according to Trulia as of March 2016. This is lower than both the statewide average monthly mortgage payment (which was $1,711) and the national average monthly mortgage payment (which was $1,784). These data suggest that homeownership rates and mortgage payments are relatively low in Castroville compared to other areas of California and nationwide.

Despite these low rates and modest increases over time, there has been an increase in demand for homes in Castroville over recent years due to increased job growth and rising incomes. As a result of this demand-supply imbalance, housing prices have increased faster than wages over this period. According to Zillow's real estate analysis tool as of March 2016: "The number of homes for sale has decreased by 3% while inventory has increased by 5%. This suggests that buyers are having more difficulty finding houses they can afford." In addition: "The days on market statistic shows that listings have remained stagnant at 33 days which indicates that there isn't much turnover happening." These trends suggest that there is strong competition among buyers for available homes in Castroville – which likely contributes to high housing prices relative to incomes.