77355, Magnolia, TX

Home Equity and Home Prices in the 77355 Zip Code of Magnolia, TX

The 77355 zip code of Magnolia, TX has a median home value of $164,000. This is higher than the statewide median home value of $151,600. The zip code also has a lower than average percentage of homeowners with a mortgage at 66%. This is lower than the statewide percentage of homeowners with a mortgage at 71%. The zip code has a higher percentage of homeowners who have equity in their homes at 86%. This is higher than the statewide percentage of homeowners who have equity in their homes at 81%.

There are several factors that may contribute to these high home values and low mortgage rates in the 77355 zip code. One reason may be that Magnolia is located in an affluent area. Another reason may be that many people in this zip code are able to afford to buy homes outright or have enough equity in their homes to cover any repairs or upgrades they might need. Additionally, there are relatively few foreclosures or short sales in this area which could also contribute to high home values and low mortgage rates.