77346, Humble, TX

The 77346 zip code of Humble, TX has a median home value of $227,000. This is significantly higher than the statewide median home value of $151,600. The zip code also has a high percentage of homeowners with equity in their homes, at 87%. This is much higher than the statewide homeownership rate of 63%.

One reason for this high level of equity may be the low number of foreclosure filings in the zip code. There were only six foreclosure filings recorded in the year 2016, which is far lower than the statewide average of 29 per 100,000 residents. Additionally, there are a large number of families who have been living in their homes for many years and have built up significant equity in them.

Despite these positive factors, there are some potential risks associated with having a high level of home equity. If someone loses their job or experiences other financial difficulties, they may not be able to afford to pay off their mortgage or other debts related to their home. Additionally, if interest rates rise significantly and borrowers cannot refinance their mortgages at favorable rates, they could lose a significant amount of money over time.