76208, Denton, TX

Home Equity and Home Prices in the 76208 Zip Code of Denton, TX

The home equity and home prices in the 76208 zip code of Denton, TX are very high. The median home value in this zip code is $217,000, which is more than double the national median home value of $130,000. Additionally, the percentage of homes in this zip code that are owned outright is significantly higher than the national average of 57%. This indicates that there are a lot of homeowners in this area who have a significant amount of equity in their homes.

One reason for this high level of equity may be the low levels of unemployment and poverty in this area. The unemployment rate here is only 4%, which is much lower than the national average unemployment rate of 6%. Additionally, the poverty rate here is only 13%, which is much lower than the national average poverty rate of 25%. These low levels of unemployment and poverty may lead to more homeowners having a significant amount of equity in their homes.

Another factor that may contribute to high levels of home equity and home prices in this area are the strong economic conditions here. The GDP per capita here is $38,500, which is significantly higher than both the national GDP per capita ($27,600) and Texas GDP per capita ($41,200). This indicates that there are a lot of people who can afford to buy homes here even if they don’t have a large down payment. Additionally, Denton has been ranked as one of America’s best cities to live in by Forbes magazine multiple times over recent years. This positive reputation may help drive up prices for homes here even further.