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Average Home Values and Ownership Trends in Zip Code 91352: A Decade of Growth and Stability
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 91352, located in Los Angeles, California, has experienced significant fluctuations in homeownership rates, average home prices, and average rent prices over the past decade. This area has seen a general trend of increasing property values and rental costs, with some variations in the balance between owners and renters.
The homeownership rate in zip code 91352 has remained relatively stable, with slight fluctuations between 52% and 55% from 2013 to 2022. In 2013, the ownership rate was 52%, and it reached its peak of 55% in 2021 before settling at 53% in 2022. During this same period, average home prices in the area have shown a substantial upward trend. In 2013, the average home price was $305,157, and it rose dramatically to $791,097 by 2022, representing a 159% increase over nine years.
The relationship between federal interest rates and homeownership rates in this zip code shows some interesting patterns. From 2013 to 2015, as interest rates remained very low (between 0.11% and 0.13%), homeownership increased from 52% to 54%. However, as interest rates began to rise more significantly from 2016 onwards, homeownership rates remained relatively stable, fluctuating between 53% and 55%. This suggests that while low interest rates may have initially encouraged homeownership, other factors also played a role in maintaining ownership levels as rates increased.
Renter percentages in zip code 91352 have fluctuated inversely to ownership rates, ranging from 45% to 47% between 2013 and 2022. The average rent prices have shown a steady increase during this period. In 2013, the average rent was $1,403, and it rose to $1,617 by 2022, an increase of about 15% over nine years. Notably, the population in this zip code has remained relatively stable, with 45,417 residents in 2013 and 44,159 in 2022, suggesting that changes in rental demand were not primarily driven by population growth.
In 2023 and 2024, the average home prices in zip code 91352 continued to evolve. The average home price in 2023 was $782,238, showing a slight decrease from 2022. However, in 2024, the average home price increased to $817,106, indicating a recovery and continued growth in the real estate market. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, which could impact future homeownership trends and affordability in the area.
Looking ahead, based on the historical data and current trends, we can predict that average home prices in zip code 91352 are likely to continue their upward trajectory over the next five years, albeit potentially at a more moderate pace due to the higher interest rates. Average rent prices are also expected to increase, driven by the overall rise in property values and the potential shift towards renting if higher interest rates make homeownership less affordable for some residents.
In summary, zip code 91352 has demonstrated a robust real estate market with substantial increases in average home prices and steady growth in average rent prices. While homeownership rates have remained relatively stable, the significant rise in property values suggests a strong demand for housing in this area. The recent uptick in interest rates may influence future trends, potentially moderating home price growth and affecting the balance between owners and renters in the coming years.
