75705, Tyler, TX

Home Equity and Home Prices in the 75705 Zip Code of Tyler, TX

The 75705 zip code of Tyler, TX has a median home value of $151,000. This is higher than the statewide median home value of $130,000. The 75705 zip code also has a higher than average percentage of homes with equity (77%). This indicates that homeowners in this area are more likely to have more equity in their homes than homeowners statewide.

The average home price in the 75705 zip code increased by 5% from 2016 to 2017. This is slower than the statewide increase of 10%. The reason for this discrepancy may be due to the fact that Tyler is a smaller city and therefore there are not as many opportunities for buyers and sellers to interact. Additionally, there are not as many new homes being built in Tyler as there are elsewhere in Texas.

Overall, it appears that homeownership rates and home values are both increasing faster in Tyler than they are statewide. This could be indicative of strong demand for housing within the city limits or it could be indicative of some underlying factors such as low interest rates or limited inventory.