96001, Redding, CA

The home equity and home prices in the 96001 zip code of Redding, CA are very high. In fact, according to Zillow, the median home value in this zip code is $319,000. This is a far cry from the median home value of $181,500 that is reported for the entire state of California. The high home values in this zip code may be due to a number of factors, including the presence of a large number of wealthy residents and strong economic conditions.

Another factor that may contribute to the high home values in this zip code is the low rate of foreclosure activity in this area. According to RealtyTrac, only 2% of homes in this zip code are currently listed for sale as foreclosed or REO properties. This low rate of foreclosure activity may be due to several factors, including strong economic conditions and a relatively stable housing market.

Despite these positive factors, there are some potential risks associated with buying or owning a home in the 96001 zip code. For example, if interest rates rise significantly from their current levels, homeowners who have taken out large mortgages could find themselves struggling to make payments on their homes. Additionally, if there is an economic downturn that leads to an increase in unemployment rates or decreases in income levels, more homeowners could find themselves unable to meet their mortgage obligations.