75702, Tyler, TX

The 75702 zip code of Tyler, TX has a median home value of $119,000 and a median home equity value of $130,000. These values are significantly higher than the statewide median home value of $76,500 and statewide median home equity value of $101,200. The 75702 zip code is also significantly higher than the national median home value of $181,200 and national median home equity value of $105,800.

There are several factors that may contribute to the high values in the 75702 zip code. First, Tyler is a rapidly growing city with many new homes being built. Second, the area has a high rate of homeownership (over 80%) which may lead to increased demand for homes and increased values. Third, the area has low rates of unemployment and poverty which may lead to increased spending on housing amenities such as landscaping and pool construction. Finally, there is strong demand for luxury homes in Tyler due to its proximity to major metropolitan areas such as Dallas and Fort Worth.

Despite these factors contributing to high values in the 75702 zip code, there are some risks associated with buying or owning a home in this area. First, prices can fluctuate greatly from year-to-year due to a variety of factors including market conditions (e.g., interest rates), construction activity in the area, and changes in local demographics (e.g., births/deaths). Second, if you are not able to qualify for a mortgage due to your credit score or other financial constraints then you may be unable to purchase or own a home in this area. Third, if you decide to sell your home then you will likely receive less money than you would have if you had sold it at market price given that there is significant demand for luxury homes in Tyler.