95560, Redway, CA

The 95560 zip code of Redway, CA has a median home value of $471,000 and a median home equity value of $236,000. The average home price in the 95560 zip code has increased by 8.5% over the past year and is projected to increase by an additional 5.8% in 2018. The average home equity value in the 95560 zip code is higher than the statewide average of $217,500 and is also higher than the national average of $193,200.

The majority of homes in the 95560 zip code are owned by individuals or couples who have been living in their homes for more than five years. Homeownership rates in the 95560 zip code are above the statewide and national averages. Additionally, homeownership rates in the 95560 zip code are higher than those found in most other parts of Redway. This indicates that residents believe that owning a home is a valuable investment and they are willing to put up with some inconvenience (e.g., long commute times) to live in a desirable area.

One factor that may contribute to high homeownership rates in the 95560 zip code is low levels of foreclosure activity relative to other parts of California. In fact, only 2 out of every 1000 households (2%) located within the boundaries of this zipcode were affected by foreclosure during 2017-2018 – well below California’s statewide rate (5%) and well below national averages (10-15%). This suggests that residents here are confident about their ability to maintain their homes even if economic conditions decline temporarily.

Despite strong demand for housing units and rising prices, there have been relatively few sales transactions within the boundaries of this zipcode over recent years – indicating that current market conditions may not be favorable for buyers who do not have ample equity or credit history