Palmdale, California

$305,800 is the house value median in the city of Palmdale, California. In Palmdale, the value of houses has soared upward in the last year 13.6 percent. There is a prediction that the worth of houses will in the following year go up a huge amount (18.5 percent).

For this 2 year period, home prices in Palmdale could go up 1/3. How can a young couple on a fixed income plan to buy a home in which prices keep going up at such a steep rate? This dilemma is intensified because many of those who plan to buy a home live in apartments where they are paying rent that keeps going up.

Per square foot, Palmdale has a list cost median of $177. The metro area of Los Angeles-Long Beach-Anaheim has a much higher per square foot list cost average of $425.

$319,000 is the presently listed cost median of Palmdale houses. For homes that have sold in Palmdale, $297,500 is the cost median.

$1,897 is Palmdale’s rent cost median. Los Angeles-Long Beach-Anaheim Metro has a much higher rent cost median which is $3,100

Foreclosures have an influence in the worth of homes. The lower the rate of foreclosures for a particular area, the higher the value of homes in that area. For every 10,000 houses in Palmdale, 2.0 are foreclosed. The metro area of Los Angeles-Long Beach-Anaheim has a lower foreclosure rate of 0.9. The United States has a foreclosure rate of 1.6.

Concerning the process of foreclosure, the first thing that occurs is a delinquent mortgage. It is important to define what a delinquent mortgage is. A delinquent mortgage is the condition of an owner of a house not making a payment on their mortgage.

Palmdale has a mortgage delinquency percentage of 1.9 percent. The United States has a lower mortgage delinquency percentage of 1.6 percent.

In the year 2008, our nation experienced a very tough recession that strongly hurt the housing market. One consequence was that the worth of houses in the United States dropped greater than 20 percent.

As a result, there are a lot of owners of houses that are presently underwater concerning their mortgages. What does it mean when an owner of a house is underwater on their mortgage? It means that the owner of the home owes more on their mortgage than the house has as its value.

13.0 percent is the percentage of Palmdale, California homes in which the home owners are underwater on their mortgages. The metro area of Los Angeles-Long Beach-Anaheim has a much lower percent of home owners who are underwater on their mortgages. It’s 5.6 percent.

In Palmdale, CA, households experience having a median annual income of $52,801.