75488, Telephone, TX

The Telephone, TX zip code 75488 has a median home value of $137,000 and a median home equity of $86,000. The Telephone area is experiencing an increase in home values as the local economy continues to improve. In the past year, the average monthly mortgage payment for homes in this zip code was $1,521. This indicates that homeowners are able to afford their mortgages and maintain a positive equity in their homes.

Home prices have increased significantly over the past few years in Telephone due to strong economic growth and low interest rates. The average sale price for homes in this zip code was $157,500 in 2017 and is projected to reach an estimated $175,000 by 2020. These high prices reflect the demand for housing stock within this area and indicate that there is strong demand for property ownership within this community.

While homeownership rates are high within Telephone, there is still room for improvement as more people are looking to purchase homes within this community. There is a lack of available inventory which has driven up prices and made it difficult for potential buyers who do not meet strict criteria set by sellers. Additionally, many residents commute long distances which can be challenging when trying to find affordable housing close to work or school. While these challenges exist, they do not appear to be slowing down or reversing the trend of increasing home values in Telephone at this time.