77464, Orchard, TX

The Orchard, TX 77464 zip code has a population of approximately 10,000 people. The median household income in the Orchard, TX 77464 zip code is $72,000. The median home value in the Orchard, TX 77464 zip code is $225,000.

There has been a recent increase in home equity and home prices in the Orchard, TX 77464 zip code. In March of 2018, the Zillow Home Value Index for the Orchard, TX 77464 zip code was at an all-time high of $236 per square foot. This is up from an all-time low of $183 per square foot in December of 2017. The average price per square foot for homes in the Orchard, TX 77464 zip code increased by 5% from March of 2018 to March of 2019.

One reason for this increase in home values is that there are relatively few homes available for sale in the Orchard, TX 77464 zip code. There were only 102 homes available for sale as of March 2019 according to Trulia. This compares to an average of 615 homes available for sale each month during the year 2018 according to Realtor® Association Of Greater Houston (RAGH). This shortage of available homes may be contributing to increased prices and home equity values because it drives up demand and increases prices accordingly.

Another reason why home values have increased recently in the Orchard, TX 77464 zip code may be due to low interest rates and increasing inflation rates. As interest rates decrease and inflation increases over time, it becomes more expensive to borrow money against your home equity or purchase a house outright with cash – both factors that could contribute to an increase in home values over time.