95336, Manteca, CA

The Manteca, CA 95336 zip code has a population of approximately 112,000 people. The median household income in the 95336 zip code is $60,000 and the median home value is $252,500. Home equity in Manteca, CA has increased significantly over the past few years. In 2006, the home equity in Manteca was $128,000. By 2016, the home equity had increased to $252,500. This increase can be attributed to several factors including an increase in home prices and an increase in home equity loans available to residents.

In 2006, there were only 2% of mortgages that were for more than 100% of the value of a house. By 2016 this number had increased to 10%. This indicates that more people are borrowing against their homes to purchase additional property or to finance other expenses such as education or retirement. Additionally, there has been an increase in HELOCs (home equity loans) available which allows homeowners to borrow against their homes without having to sell them or take out a second mortgage. These loans have decreased interest rates and make it easier for homeowners to access funds when they need them.

Another factor contributing towards the growth of home equity in Manteca is that many people are taking out HELOCs instead of traditional mortgages because they believe that their house will not lose as much value over time as a traditional mortgage would. Many homeowners also believe that HELOCs are less risky than traditional mortgages since they do not have to pay back principal and interest until they sell their house which can be many years down the road.

Overall, it appears that increasing numbers of people are using their homes' equity as a way to finance various expenses such as education or retirement while also keeping their homes relatively stable in terms of value over time compared with taking out a traditional mortgage on property worth more than 100% of its current market value