75206, Dallas, TX

The 75206 zip code of Dallas, TX has a median home value of $214,000 and a median home equity value of $146,000. The homeownership rate in the 75206 zip code is 66.5%, which is lower than the national homeownership rate of 68.2%. The percentage of households that own their homes outright is lower in the 75206 zip code than the national average of 63.9%. The percentage of households that are mortgage-free is also lower in the 75206 zip code than the national average of 34.1%.

The reason for these low homeownership rates and high home equity values in the 75206 zip code may be due to its high concentration of renters. In fact, more than half (54%)of all households in the 75206 zip code are renters, which is higher than both the national average (46%) and the citywide average (47%). This high concentration of renters may be contributing to low homeownership rates and high home equity values because it means that there are a lot more potential buyers who are not currently able to purchase a home due to affordability constraints.

Another factor that may be contributing to these low homeownership rates and high home equity values in the 75206 zip code is its relatively low population density. The population density in this area is only 2,812 people per square mile, which is much lower than both the citywide average (10,552 people per square mile) and the national average (4,545 people per square mile). This low population density may make it harder for potential buyers to find affordable homes available for purchase within this area.