76454, Gorman, TX

The 76454 zip code of Gorman, TX has a median home value of $128,000. The home equity in this zip code is $41,000. This means that the average homeowner in this zip code has approximately 41% of their home's value invested in their home equity.

There are a number of factors that can affect the value of a home, including the location and size of the property, the condition of the property, and how well it has been maintained. In general, homes located in desirable areas or with good features (such as large lot sizes) will typically have higher values than homes located in less desirable areas or with less appealing features. Additionally, homes that have been well-maintained may be worth more than homes that have not been well-maintained.

The average price per square foot for properties located in Gorman is $102 which is above the national average price per square foot ($77). This indicates that properties located in Gorman are generally more expensive than properties located elsewhere in Texas.

One factor that can affect the value of a home is interest rates. When interest rates are high (as they are currently), it makes it more difficult for people to borrow money to buy homes and thus reduces the demand for housing stock. As a result, when interest rates go down (as they are likely to do eventually), homeowners who have taken out mortgages on their homes will find themselves owing more money than their house is worth and may be forced to sell their house at a loss.

Another factor that can affect the value of a home is inflationary pressure. When inflation rises above certain levels (usually 2%), it causes prices for goods and services to increase faster than wages which can lead to people losing money over time if they own assets such as stocks or bonds whose values are tied directly to inflation rates.