76707, Waco, TX

Home Equity and Home Prices in the 76707 Zip Code of Waco, TX

The home equity and home prices in the 76707 zip code of Waco, TX are very high. The median home value in this zip code is $217,500, which is more than double the national median home value of $106,000. Additionally, the percentage of homes that are worth more than their original purchase price is also high in this zip code. For example, approximately 78% of homes in this zip code are worth more than their original purchase price. This is much higher than the national average of 54%.

One reason for this high level of home equity and home prices in the 76707 zip code of Waco, TX may be due to its strong economy. The unemployment rate here is only 3%, which is much lower than the national average unemployment rate of 6%. Additionally, wages here are relatively high compared to other areas across the country. As a result, it may be easier for people to afford a house and maintain a mortgage on it here.

Another factor that may contribute to the high level of home equity and home prices in the 76707 zip code of Waco, TX is its low population density. There are only about 3600 people living in this area per square mile (which is much less than most other areas across America), which allows for greater opportunity for people to buy a house and maintain a mortgage on it. Additionally, there are not as many competing buyers or sellers when it comes to houses in this area – so there is less competition for homes and therefore higher levels of demand and prices.