96020, Chester, CA

Chester, CA 96020 is located in the Inland Empire region of Southern California. The zip code has a population of approximately 116,000 and an average household income of $64,000. Home prices in Chester have increased significantly over the past few years, reaching a median price of $248,500 in January 2019.

The primary drivers of home equity and home prices in Chester are demand and supply. There is strong demand for homes in the 96020 zip code because it is located near many major metropolitan areas (Los Angeles, San Bernardino, Riverside) and has a low unemployment rate. Additionally, there is limited supply of homes available for purchase due to stringent zoning regulations and restrictive land ownership laws. This has resulted in high home values and rising home equity for residents in the 96020 zip code.

Despite these positive factors, there are some risks associated with buying a home in Chester. First, there is a risk that interest rates could rise over time which would make it more expensive to borrow money to purchase a home. Second, if the market conditions change (e.g., if more homes become available for sale), then prices may decline which would reduce homeowners' equity levels. Finally, although zoning regulations may not be as restrictive as they were several years ago, they may still limit potential development options which could lead to slower growth or even contraction of the housing market within the 96020 zip code over time.