As home values continue their ascent, the number of homeowners who find themselves living in million-dollar neighborhoods is growing to record levels. According to an analysis by online real estate site Zillow, there are 1,280 ZIP codes nationwide have a significant portion of their homes worth at least $1 million – many of which are in San Diego County.
Chula Vista, Carlsbad, Pala, East Village/Downtown, Scripps Ranch, Del Mar and Encinitas are among some of the areas that fit Zillow's criteria of having at least 10 percent homes valued at or more than one million dollars.
Nationwide, more than one in 25 ZIP codes fit squarely in this elite category. There are currently more million-dollar ZIP codes than at the housing-market peak in 2007.
Today, conforming no-point 30-year fixed mortgage rates averaging 3.875 percent while 15-year rates are near 3.125 percent.
Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.