Mortgage payments would soar to an estimated Â£1,400, almost double what the average homebuyer claims they can afford, should variable rates rise from 4 per cent to six per cent at the end of a typical two-year fixed deal.
Note that zip codes are a crude measure. The highest crime area in town 89109 actually has two completely different mechanisms...the huge number of tourist on the strip is one part and a very nasty area to the northern end the other.
Zip code 90720 statistics: (Find on map). Estimated zip code population in 2013: 22,227. Zip code population in 2010: 21,751. Zip code population in 2000: 21,328. Mar. 2013 cost of living index in zip code 90720: 125.4 (high, U.S. average is 100). Land area: 6.1 sq. mi.