95128, San Jose, CA

The 95128 zip code of San Jose, CA has a median home value of $1,085,000. This is higher than the California statewide median home value of $717,500. The 95128 zip code also has a higher than average percentage of homes with a mortgage at 97%. This indicates that more homeowners in this zip code are able to afford a mortgage than in other parts of the state.

One factor that may contribute to the high home values in the 95128 zip code is its relatively low population density. There are only 2,811 people per square mile in this area, which is much lower than the California statewide population density of over 12,000 people per square mile. This lack of population density may make it more difficult for potential buyers to find available homes and increase prices accordingly.

Another possible explanation for the high home values in the 95128 zip code is its abundance of luxury homes. There are an estimated 1,200 luxury homes located within this zip code alone, which could account for some portion of the increased prices. Additionally, many homeowners in this area may be able to afford larger mortgages because they earn higher incomes than average residents in California.