77507, Pasadena, TX

The 77507 zip code of Pasadena, TX has a median home value of $269,000 and a median home equity value of $146,000. These values are significantly higher than the statewide median home value of $183,500 and statewide median home equity value of $130,000. The reason for this disparity is likely due to the high concentration of wealthy residents in this zip code. In fact, over 60% of households in the zip code have an annual income above $100,000. This high level of wealth allows homeowners to leverage their assets to purchase more expensive homes than would be possible if their incomes were lower.

Another factor that contributes to the high values in this zip code is the low number of homes available for sale. As a result, homeowners have little competition for properties and are able to negotiate higher prices than would be possible in a more competitive market. Additionally, there is a limited supply of housing stock which also drives up prices. This situation is likely to continue as long as demand remains strong and new development is slow to take place in this area.