ZIP Code 93923 — Carmel, California

The median home in 93923 is valued at $1,444,200 against a median household income of $120,972, a price-to-income ratio of 11.9. That is far above the 6.7 median across the 1,558 California ZIP codes with published housing data, and well past the 3.0 ratio that marks an attainable market nationally, which means a household earning the local median income cannot finance the local median home on conventional terms. Within Monterey County, 93923 ranks 25 of 27 ZIPs on affordability (1 = lowest ratio); the county median ratio is 6.8. Renting takes 22.4% of median household income (median rent $2,257 a month), under the 30% cost-burden threshold.

93923 ranks 336 of 1,558 statewide on median household income and 135 of 1,558 on median home value; its income is above the $84,669 Monterey County median. 77% of households own their home, above the 64% statewide ZIP median, making this a majority-owner ZIP. 67% of adults hold a bachelor's degree or higher, far above the 31% median, and the poverty rate is 7.3%, below the 10.8% statewide ZIP median. Unemployment stands at 4.3%.

With 62 residents per square mile across 202.7 square miles of land, 93923 is far less dense than the statewide ZIP median of 1,120 (rank 1,206 of 1,558). This is rural or open territory where most of the land is agricultural, forest, desert or public land.