ZIP Code 93924 — Carmel Valley, California

The median home in 93924 is valued at $1,071,400 against a median household income of $158,261, a price-to-income ratio of 6.8. That is in line with 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, so buying here on a local median income requires substantial savings or a second income. Within Monterey County, 93924 ranks 14 of 27 ZIPs on affordability (1 = lowest ratio); the county median ratio is 6.8. Renting takes 10.7% of median household income (median rent $1,416 a month), under the 30% cost-burden threshold.

93924 ranks 130 of 1,558 statewide on median household income and 270 of 1,558 on median home value; its income is far above the $84,669 Monterey County median. 80% of households own their home, above the 64% statewide ZIP median, making this a majority-owner ZIP. 55% of adults hold a bachelor's degree or higher, far above the 31% median, and the poverty rate is 9.0%, below the 10.8% statewide ZIP median. Unemployment stands at 3.4%.

With 35 residents per square mile across 187 square miles of land, 93924 is far less dense than the statewide ZIP median of 1,120 (rank 1,277 of 1,558). This is rural or open territory where most of the land is agricultural, forest, desert or public land.