94022 Zip Code's October First-Time Homebuyer Report

The 94022 zip code has one of the most prosperous populations in California with a median income of $155,303 per household. On top of being ranked the sixth- richest zip code, its population is much younger than others with a median age of 48 years. The 94022 zip code market almost exclusively consists of detached houses, accounting for 97% of the current homes in the area. Leading the list of top schools in the zip code are Montclaire Elementary School, Jane Lathrop Stanford Middle School, and Palo Alto High School.

Culture

If you are interested in some outdoor fun, Foursquare says that Enid W. Pearson Arastradero Open Space Preserve and Palo Alto Hills Golf & Country Club are the most popular places in 94022. If you like arts and entertainment, some popular spots are Smithwick Theater Foothill College and Los Altos History Museum. And finally, recommended places to eat are Los Altos Grill, Sumika, and Rick's Cafe.

Price Range

Homes in the 94022 zip code are generally more expensive than others in the state with a median home value of $1,745,000 and an average list price of $4,983,810. The 94022 zip code market pulled back with a 60.0% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 17.8 monthly average with 14 homes sold.

Out of all the listings in the 94022 zip code, these have been viewed the most. So be sure to see what all the fuss is about with these fabulous homes.

$12.9M   $2.4M   $5.5M  

Typical Dwelling

The typical dwelling in the 94022 zip code is a four-bedroom detached home worth about $3,698,361. To purchase a similar home, a buyer with good credit and a $739,672 cash down payment could obtain a mortgage with a 3.95% interest rate and a $12,892 monthly payment. The property tax rate is $5.62 per $1,000 of taxable assessed value.

Get started right now by checking out 94022 homes for sale or reviewing 94022 real estate trends.


Data reported through 10/13/2016

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