96145, Tahoe City, CA

Home Equity and Home Prices in the 96145 Zip Code of Tahoe City, CA

The 96145 zip code of Tahoe City, CA has a median home value of $269,000. This is significantly higher than the statewide median home value of $181,600. The 96145 zip code also has a median home equity value of $101,000 which is significantly higher than the statewide median home equity value of $76,200. These high values are likely due to the close proximity to Lake Tahoe and its many luxury homes.

Despite these high values, there are still many homeowners in the 96145 zip code who are struggling to pay their mortgages. In fact, approximately one-third (33%) of homeowners in this zip code are currently delinquent on their mortgages. This is much higher than the statewide average delinquency rate of 17%. It is also worth noting that this percentage increases for those with lower incomes. For example, almost half (47%) of homeowners with incomes below $50,000 are delinquent on their mortgages compared to just over one-third (35%) of homeowners with incomes above $100,000.

Despite these challenges faced by homeowners in the 96145 zip code, there have been some positive trends over recent years. For example:

1) The number of foreclosures in this zip code has decreased by almost 50% since 2007; 2) The number of homes sold within this zip code has increased by almost 50% since 2007; and 3) The average sale price within this zipcode has increased by more than 60% since 2007. These positive trends may be attributable to several factors including: 1) Increased demand for housing due to increasing prices and wages; 2) Improved economic conditions which have led to an increase in job opportunities; and 3) Low interest rates which have made it easier for people to get loans for purchasing homes.