75482, Sulphur Springs, TX

The Sulphur Springs, TX zip code 75482 has a population of around 10,000 people. The median household income in the zip code is $60,000 which is above the national median household income of $53,046. The home equity in the zip code is around $225,000 which is significantly higher than the national average home equity of $130,000. This indicates that there are a lot of homeowners in the Sulphur Springs area who are able to use their home equity to finance other investments or pay down debt.

One reason why home equity is so important in the Sulphur Springs area may be because there are a lot of homeowners who have taken out mortgages to purchase their homes. Around 60% of households in the Sulphur Springs zip code have taken out mortgages and this percentage is much higher than the national average mortgage rate of 43%. This indicates that homeowners in the Sulphur Springs area are likely able to afford their homes without having to rely on outside sources such as inheritance or savings.

Another factor that may contribute to high home equity levels in the Sulphur Springs area is that many homeowners have been able to keep their homes relatively affordable over time. The median price for homes sold in the Sulphur Springs zip code has increased by only 6% since 2010 which compares favorably with other areas throughout Texas where prices have increased by more than 20%. This suggests that there may not be too much pressure on homeowners' pockets due to rapidly increasing housing prices elsewhere in Texas.