75044, Garland, TX

Garland, TX is located in Dallas County and has a population of around 214,000. The 75044 zip code covers a total area of just over 2 square miles and has a median home value of $131,200. Home equity in the 75044 zip code has increased by almost 20% over the past year, reaching an average value of $140,100.

The main drivers of home equity growth in Garland are strong job growth and low interest rates. Employment in Garland is projected to grow by 2% over the next decade, which will lead to more demand for homes and higher home values. Additionally, interest rates have remained relatively low throughout most of 2017-2018, making it more affordable for buyers to purchase homes and increase their home equity.

There are several factors that could lead to slower home equity growth in Garland in the future. If interest rates rise significantly or employment decreases, then buyers may be less able to afford to increase their home equity at a rapid pace. Additionally, if there is an economic downturn or another housing market crash similar to what we experienced in 2008-2009, then prices could decline significantly and homeownership could become less accessible for many people.