95945, Grass Valley, CA

Grass Valley, CA is located in the Sacramento metropolitan area and has a population of around 30,000. The median home value in the zip code is $409,500 which is significantly higher than the statewide median home value of $269,900. Grass Valley also has a high rate of home equity ownership with nearly two-thirds of households owning their homes outright or with a mortgage that is less than 90% of the value of the property.

The reason for this high rate of home equity ownership is likely due to several factors including low unemployment rates and strong economic growth over the past few years. Additionally, Grass Valley has a relatively low cost of living compared to other areas in California and nationwide. This combination means that homeowners can afford to pay off their mortgages relatively quickly and still have enough money left over to invest in their homes or take advantage of available amenities such as schools and shopping districts.

While there are some risks associated with having high levels of home equity, such as potential problems if interest rates rise or if the housing market takes a downturn, overall homeownership appears to be an advantageous financial strategy for many residents in Grass Valley.