76490, Whitt, TX

The home equity and home prices in the 76490 zip code of Whitt, TX are very high. The median home value in this zip code is $269,000, which is more than triple the national median home value of $106,500. Additionally, the percentage of homes in this zip code that are owned outright is significantly higher than the national average of 57%. This suggests that there are a lot of people in this area who are able to afford to buy homes outright.

One possible explanation for these high home values and homeownership rates is that Whitt is a relatively affluent area. The median household income in this zip code is $87,500, which is above the national median household income of $59,039. Additionally, the percentage of households in this zip code that have incomes over $100,000 is also above the national average of 23%. These factors may contribute to why so many homes in this area are owned outright.

On the other hand, it's worth noting that not everyone in Whitt can afford to buy a home outright. The percentage of households in this zip code that have incomes below $30,000 is above the national average of 20%. This suggests that there are a lot of people who need to borrow money to purchase a home. In fact, about one-third (34%)of all mortgages taken out in this zip code were for loans with terms greater than 30 years. This indicates that many people who live in Whitt are likely struggling financially and may not be able to afford to buy a house on their own right now or within the next few years.