76706, Waco, TX

Home Equity and Home Prices in the 76706 Zip Code of Waco, TX

The home equity and home prices in the 76706 zip code of Waco, TX are very high. The median home value in this zip code is $194,900, which is more than triple the national median home value of $76,200. The average home value in this zip code is also much higher than the statewide average of $151,100. This indicates that there are a lot of homes in this zip code that are worth a lot more than what most people would consider to be a normal price for a house.

One reason why the homes in this zip code are so valuable is because they are located near some very important businesses and institutions. The city of Waco is located just north of the zip code and it has a population of over 100,000 people. There are also several large universities located within close proximity to this area including Baylor University and Texas Tech University. These institutions have generated a lot of jobs and income over the years which has helped to drive up the prices for homes in this area.

Another factor that has contributed to high home values in this area is the fact that there is not much available land for sale here. This means that there isn't as much competition for homes when they come up for sale which leads to increased prices. Additionally, many people who live in this area own their homes outright rather than renting them out so they have more control over how much money they can make from their property investments.