96062, Millville, CA

Millville, California is located in the 96062 zip code. According to the 2010 census, the population of Millville is 10,827. The median household income in Millville is $60,944 and the median family income is $68,542. The 96062 zip code has a home equity value of $269,000 and a home price of $269,000.

The average home equity value in the 96062 zip code has increased by 21% since 2006. In 2006, the average home equity value was $211,000 and in 2010 it was $269,000. This increase can be attributed to an increase in home prices throughout California as well as an increase in interest rates over this time period.

The average home price in Millville has increased by 23% since 2006. In 2006, the average home price was $219,500 and in 2010 it was $269,000. This increase can also be attributed to an increase in home prices throughout California as well as an increase in interest rates over this time period.

Home Equity vs Home Price:

There are many factors that contribute to a rise or fall of a particular housing market including interest rates (which affect both mortgage rates and property values), inflation (which affects both mortgage payments and property values), availability of credit (which affects both mortgage approvals and house sales), etc… However, one of the most important factors affecting house prices is whether or not people are able to borrow money against their homes’ equity (the difference between what a property is worth and what someone owes on it). If people cannot borrow money against their homes’ equity then they will have less incentive to buy or sell because they will not receive any benefit from doing so (i.e., they will not see any appreciation on their investment). Conversely if people are able to borrow money against their homes’ equity then they will have more incentive to buy or sell because they will receive some benefit from doing so (i.e., they will see appreciation on their investment).

In general terms then:

-A rise in home prices corresponds with an increase in available credit which leads people to purchase more expensive homes; while -a fall in home prices corresponds with a decrease availability of credit which leads people purchase cheaper homes