95403, Santa Rosa, CA

Home Equity and Home Prices in the 95403 Zip Code of Santa Rosa, CA

The 95403 zip code of Santa Rosa, CA has a median home value of $269,000. This is significantly higher than the statewide median home value of $181,500. The 95403 zip code also has a high percentage of homeowners with equity in their homes. In fact, almost two-thirds (64%) of homeowners in the 95403 zip code have equity in their homes. This is significantly higher than the statewide average of just over half (53%).

One reason for this high level of equity may be that many homeowners in the 95403 zip code have been able to save up for a down payment on their home. In fact, almost half (47%) of homeowners in the 95403 zip code report having saved up at least 20% or more of their annual income towards a down payment on their home. This is significantly higher than the statewide average savings rate (34%). Additionally, many homeowners in the 95403 zip code are able to borrow against their home equity to finance other expenses such as education or purchasing a new car. For example, almost one-third (32%) of homeowners in the 95403 zip code report using their home equity to finance other expenses such as education or purchasing a new car. This is significantly higher than the statewide average borrowing rate (21%).

Overall, it appears that many homeowners in the 95403 zip code are very well-positioned financially when it comes to owning their homes. They have saved up enough money and are able to access credit products that allow them to purchase items they may not be able to afford otherwise.