95118, San Jose, CA

The 95118 zip code of San Jose, CA has a median home value of $1,026,000 and a median home equity value of $527,000. This is higher than the California statewide median home value of $748,500 and the national median home equity value of $217,200. The 95118 zip code also has a high percentage of homeowners with a mortgage (77%) and a low percentage of homeowners with no mortgage (15%).

The 95118 zip code has seen an increase in its home values over the past five years. In 2012, the median home value was $898,000 and in 2016 it was $1 million. This is likely due to increased demand for housing in San Jose as well as other areas throughout Silicon Valley. The average monthly payment on a mortgage in the 95118 zip code is $2,711 which indicates that most homeowners are able to afford their homes without difficulty.

Despite having high home values and relatively low rates of foreclosure, there are some concerns about the stability of the market in the 95118 zip code. There have been reports recently about large numbers of homes being sold for below asking prices which could indicate that there is an oversupply of housing units in this area. Additionally, there have been reports about buyers who are not able to obtain mortgages due to stricter lending standards implemented by banks recently. If these trends continue then it is possible that prices will decrease or that more homeowners will default on their mortgages