77035, Houston, TX

Houston, TX is one of the most populous cities in the United States and has a population of over 2 million people. The 77035 zip code is located in Houston and has a population of over 210,000 people. Home equity is important to many people in Houston because it can provide them with a cushion against unexpected financial challenges.

According to Zillow, the median home value in 77035 is $227,200. This means that home equity accounts for approximately 36% of the median household income in this zip code. Additionally, home prices have increased significantly over the past few years. In January 2017, the average home value was $236,600 and by December 2017 it had increased to $248,100. This indicates that there is strong demand for homes in 77035 and that homeowners are able to reap significant benefits from their home equity investments.

One reason why homeowners are able to benefit so much from their home equity investments is because interest rates are relatively low right now. The average interest rate on mortgages in 77035 was 4.5% as of December 2017 according to Zillow data. This means that homeowners can borrow money against their homes at relatively low rates and use this money to purchase other assets or pay off debt obligations. Additionally, mortgage lenders typically require borrowers to have at least 20% down payment on a house before they will approve a loan application so homeowners who have plenty of equity in their homes are more likely to be approved for a mortgage than those who do not have any equity invested in their property.

Overall, it appears that there is strong demand for homes in 77035 and that homeowners are able to reap significant benefits from their home equity investments. Low interest rates combined with increasing housing prices mean that homeowners can build up substantial wealth over time by using their home equity as collateral for loans or other financial transactions