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Zip Code 95776: Rising Home Values and Stable Ownership in Woodland, California
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 95776, located in Woodland, California, has experienced notable changes in its housing market over the past decade. This area has shown resilience in homeownership rates while seeing significant increases in average home prices and fluctuations in rent prices, reflecting broader economic trends and local market dynamics.
The homeownership rate in zip code 95776 has remained relatively stable, with minor fluctuations. In 2013, the homeownership rate was 62%, peaking at 64% in 2014, 2015, and 2017, before settling at 63% in 2022. During this period, average home prices in the area saw substantial growth, increasing from $277,237 in 2013 to $606,414 in 2022, representing a 118.7% increase over nine years. This trend suggests that despite rising home prices, the community has maintained a relatively consistent level of homeownership.
Federal interest rates have played a significant role in shaping homeownership trends. From 2013 to 2016, interest rates remained very low, ranging from 0.09% to 0.4%, coinciding with the highest homeownership rates in zip code 95776 (62% to 64%). As interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, homeownership rates remained relatively stable, indicating the area's resilience to moderate interest rate increases.
Renter percentages in zip code 95776 have shown slight variations over the years, complementing the homeownership rates. The renter-occupied rate was 38% in 2013, decreased to 36% in 2014 and 2015, and returned to 37% by 2022. Average rent prices generally increased during this period, rising from $1,395 in 2013 to $1,372 in 2022, with a peak of $1,515 in 2019 before experiencing a slight decline. The population of the zip code grew from 23,779 in 2013 to 28,792 in 2022, potentially contributing to the overall increase in rental demand and prices.
Recent data shows that the average home price in zip code 95776 decreased slightly to $583,849 in 2023 but showed a small uptick to $593,092 in 2024, indicating a stabilization in the housing market after significant price increases in previous years. Concurrently, federal interest rates have risen substantially, reaching 5.02% in 2023 and 5.33% in 2024, which may impact future homebuying activity in the area.
Applying predictive models to forecast 5-year trends, average home prices in zip code 95776 are anticipated to continue rising, albeit at a more moderate pace than observed in the past decade. The average home price is projected to reach approximately $650,000 by 2029. Average rent prices are also expected to increase, potentially reaching around $1,600 per month in the same timeframe. These projections are based on historical trends and current market conditions.
In summary, zip code 95776 has demonstrated a resilient housing market with stable homeownership rates despite significant increases in average home prices. The area has maintained a balance between owner-occupied and renter-occupied properties, with both sectors showing growth in prices over time. The recent stabilization in home prices and the sharp increase in interest rates may lead to a more balanced market in the coming years, potentially affecting both homeownership rates and rental demand.
