32746, Lake Mary, FL

The 32746 zip code of Lake Mary, FL has a median home value of $227,000 and a median home equity of $145,000. The average household size in the 32746 zip code is 2.5 people. The 32746 zip code is made up of approximately 50% single family homes and 50% multi-family homes.

There has been an increase in the number of households in the 32746 zip code that own their home outright or have a mortgage that is less than 80% of the value of their home. This indicates that there are more households that are able to access credit and borrow against their home equity to purchase a house or to refinance their current mortgage. Additionally, there has been an increase in the number of households that are purchasing homes with cash or using a combination of cash and financing. This indicates that there is increased demand for housing in the 32746 zip code and that people are willing to invest money into purchasing a house rather than rent one.

The average price per square foot for houses in the 32746 zip code is $107 which is higher than the Florida statewide average price per square foot ($93). This indicates that houses in the 32746 zip code are more expensive than houses across Florida as demand for housing increases within this specific area. Additionally, it appears as though there may be some speculation occurring within the market as prices for homes have increased significantly faster than wages over recent years. If this trend continues, it could lead to an eventual decrease in prices for homes within the 32746 zip code as investors may begin selling their properties at higher prices due to increased profits rather than reinvesting back into buying additional properties within this market area