95014, Cupertino, CA

The 95014 zip code of Cupertino, CA has a population of over 105,000 people and a median home value of $1,039,500. The 95014 zip code is located in the Silicon Valley region of Northern California and has a high concentration of technology companies such as Apple Inc., Google Inc., and Intel Corporation. Home values in the 95014 zip code have increased significantly over the past few years due to an influx of affluent residents and strong economic growth in the area.

As of March 2016, there were 107 homes for sale in the 95014 zip code and 97% of these homes were sold within one month. The average home price in the 95014 zip code increased by 9% from March 2015 to March 2016. This rapid increase in home prices is likely due to several factors including an increasing demand for housing stock due to rising incomes and job security, low interest rates that are benefiting borrowers who are able to get mortgages, and limited supply caused by stringent zoning laws that restrict development near major tech companies.

Despite the recent increase in home prices, homeownership rates remain high in the 95014 zip code. As of March 2016, 78% of households lived in owner-occupied homes while 22% lived in rental properties. This high homeownership rate is likely attributable to strong economic growth coupled with tight housing market conditions which have made it difficult for new residents to enter the market and purchase homes.