What is the Best Neighborhoods USA ranking for Third Addition?
Third Addition is ranked #8 of 16 eligible neighborhoods in Pacific Grove; #777 of 1,814 eligible neighborhoods in CA; and #6,857 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Third Addition
Pacific Grove, CA | Monterey County
Scored premium profile
Best Neighborhoods USA Index
52.1
Stability and Strength
60.1
Value Opportunity
44.5
Momentum
50.0
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Pacific Grove, CA |
| County | Monterey County |
| National rank | #6,857 of 14,967 |
| State rank | #777 of 1,814 |
| City rank | #8 of 16 |
| County rank | #16 of 31 |
| National percentile | 54.2 |
| National band | MIDDLE_50_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $1,310,097 |
| Year-over-year home value change | 1.6% |
| Month-over-month home value change | -0.23% |
| Home value to income ratio | 10.23 |
| Median household income | $128,079 |
| Bachelor's degree or higher | 63.6% |
| Civilian unemployment rate | 4.7% |
| Homeownership rate | 52.3% |
| Housing vacancy rate | 15.1% |
| Rent burden 30% or higher | 50.7% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Third Addition
Is Third Addition one of the best neighborhoods in Pacific Grove?
Third Addition has a Best Neighborhoods USA Index of 52.1 and a city ranking of #8 of 16 eligible neighborhoods in Pacific Grove.
How much are homes worth in Third Addition?
The current Zillow Home Value Index for Third Addition is approximately $1,310,097.
Are home values rising or falling in Third Addition?
Zillow neighborhood values changed 1.6% year over year and -0.23% month over month.
What is the Neighborhood Momentum Score for Third Addition?
Third Addition has a Neighborhood Momentum Score of 50.0. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Third Addition?
The NDS-derived neighborhood median household income is approximately $128,079.
How affordable is Third Addition relative to household income?
The current Zillow home-value-to-household-income ratio is 10.23. Price-to-income affordability is a major Value Opportunity input.
Is Third Addition primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 52.3%.
What is the unemployment rate in Third Addition?
The NDS-derived civilian unemployment rate is approximately 4.7%.
How educated are residents of Third Addition?
Approximately 63.6% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Third Addition face high rent burden?
Approximately 50.7% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Third Addition?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications17
Estimated originations11
Home-purchase applications4
Origination rate61.3%
Home-purchase share25.1%
Average application loan$473,294
Total application loan amount$8,120,459
National application rank#11,093 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 5.2% YoY; originations 8.3% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.