96038, Grenada, CA

The 96038 zip code of Grenada, CA has a median home value of $269,500. This is higher than the California statewide median home value of $217,500. The 96038 zip code also has a lower than average home equity ratio of 36%. This means that homeowners in this zip code have less equity in their homes than most other Californians.

The 96038 zip code also has a high percentage of homeowners who are 65 years or older. This is likely due to the fact that many retirees choose to live in rural areas where housing is more affordable. In addition, seniors often have larger down payments and are more likely to qualify for favorable mortgage rates.

Despite these positive factors, there are some warning signs for potential buyers in the 96038 zip code. For example, the percentage of homeowners with mortgages that are more than 90% of their home's value is high compared to the statewide average. This suggests that many residents may be over-extended on their mortgages and could face difficulty refinancing if interest rates rise significantly in the future.