95640, Ione, CA

Home Equity and Home Prices in the 95640 Zip Code of Ione, CA

The home equity and home prices in the 95640 zip code of Ione, CA are very high. The median home value in this zip code is $1,062,000. This is a far cry from the median home value of $146,100 that is found nationwide. In fact, only 3% of zip codes have a higher median home value than the one found in the 95640 zip code.

The high median home values can be attributed to a number of factors. First and foremost, there are a large number of affluent residents living within this zip code. Additionally, many homes here were built during the late 1990s and early 2000s which are now reaching their peak values. Finally, Ione is located in an area that has seen strong economic growth over the past few years. As a result, there are more opportunities for people to purchase expensive homes than there would be elsewhere in California or the United States.

Despite these high values however, not everyone within this zip code can afford to live here comfortably. The average household income here is just over $130K which puts it well below the national average of $186K. Additionally, nearly half (46%) of households within this zip code earn less than $50K per year which means that they would struggle to afford even modestly priced homes on their own accord.

Overall then, while it may be difficult for some people to purchase a home within this zip code on their own accord due to its high prices tags; those who do find themselves able to do so will likely enjoy significant equity gains over time as housing prices continue to rise nationally