75703, Tyler, TX

Home Equity and Home Prices in the 75703 Zip Code of Tyler, TX

The 75703 zip code of Tyler, TX has a median home value of $137,500. This is higher than the statewide median home value of $119,600. The homeownership rate in the 75703 zip code is 69%. This is lower than the statewide homeownership rate of 73%. The percentage of households that own their homes outright is 26%. This is lower than the statewide percentage of households that own their homes outright at 31%. The percentage of households that are renters is 43%. This is higher than the statewide percentage of households that are renters at 37%.

There are a number of factors that may contribute to this difference. One possibility is that there are more renter-occupied homes in Tyler compared to homeowner-occupied homes. Another possibility could be that there are more owner-occupied homes in Tyler but they have been owned for longer periods of time which would make them more valuable. Additionally, some people may choose to rent instead of buy because they believe they will be able to sell their home sooner for a higher price or because they anticipate needing to move less frequently than if they were purchasing a home.

Despite these differences, it can be assumed that overall housing prices and home equity levels tend to mirror those in other parts of Texas and across the United States. That being said, it's important to keep in mind that local market conditions can vary significantly from one area to another so it's always best to consult with a real estate agent or mortgage lender if you're interested in buying or selling a property in this particular area.