94501 Zip Code's January First-Time Homebuyer Report

The 94501 zip code has a cost of living adjustment score of 167.2, which is expensive when compared to others in California. Also, the area is considered affluent with a median income of $63,168 per household. Homes in the 94501 zip code are older than most with a median age of 59 years. The top school in the zip code is Bay Farm Elementary School.

Culture

According to Foursquare, Forbidden Island is the most popular spot to grab a drink in 94501. You might also try Spritzer's, a popular place to get a cup of coffee. And then for shopping, you might enjoy Walgreens, Safeway, and Alameda Farmers' Market.

Price Range

Some of the more expensive homes in California are in the 94501 zip code with a median home value of $470,000 and an average list price for available homes currently at $866,441. The 94501 zip code market pulled back with an 8.1% sales drop in this week's report. However, overall sales numbers for the last 30 days remained above the monthly average (32.9) with 34 homes sold.

Wonder which homes are generating the most buzz? Here are the most viewed listings in the 94501 zip code:

$729K   $499K   $990K  

Typical Dwelling

The typical dwelling in the 94501 zip code is a three-bedroom detached home worth about $999,237. To purchase a similar home, a buyer with good credit and a $199,847 cash down payment could obtain a mortgage with a 3.95% interest rate and a $3,942 monthly payment. The property tax rate is $7.10 per $1,000 of taxable assessed value.

Get started right now by checking out 94501 homes for sale or reviewing 94501 real estate trends.


Data reported through 1/12/2017

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