75002, Allen, TX

The 75002 zip code of Allen, TX has a median home value of $151,000 and a median home equity value of $119,000. This is higher than the statewide median home value of $130,800 and the national median home equity value of $141,200. The 75002 zip code also has a lower than average homeownership rate at 54%. This is due in part to the high home values and low homeownership rates in this area.

Home prices in Allen have been increasing over the past few years. The average increase from 2014 to 2016 was 9%. However, there have been some fluctuations in the market over this time period. In 2015 and 2016 there was an increase in prices followed by a decrease in 2017. There is no clear trend yet for 2018 but it seems that prices are slowly starting to rise again.

There are many factors that contribute to changes in home prices including interest rates, availability of homes for sale, local economic conditions, and demographic trends. It can be difficult to predict which factors will affect which areas most strongly and how long these effects will last. That being said, there are some general trends that can be observed over time: when interest rates are low or when there is an influx of new residents into an area (for example due to migration or construction), prices tend to go up because more people are competing for limited housing options. Conversely, when interest rates rise or when demand decreases (for example due to economic recession), prices usually fall because fewer people are interested in buying or selling homes.

Overall, it seems that the 75002 zip code of Allen is experiencing relatively stable housing prices right now despite some fluctuations here and there. This suggests that overall demand for homes remains strong within this area even though some buyers may be hesitant to make a purchase based on recent market volatility