77551, Galveston, TX

The Galveston, TX 77551 zip code has a population of approximately 102,000 people. The median household income in the 77551 zip code is $62,500. The median home value in the 77551 zip code is $213,000.

Home equity and home prices are important factors to consider when purchasing a home. Home equity is the difference between the market value of a home and the amount of money that a homeowner owes on their mortgage. Home prices are based on a number of factors, including location, size and condition of the property.

In recent years, Galveston has seen an increase in home values and home equity. In 2017, the median home value in Galveston was $213,000. This represents an increase of 8% from 2016 and an increase of 10% from 2015. In addition, according to Zillow’s 2018 Home Value Index report for Galveston County (which includes all cities within Galveston County), the average list price for homes in Galveston County was $269,700 as of January 1st 2018 which is up 5% from January 1st 2017 and up 9% from January 1st 20161 .

There are several reasons why homeowners have seen an increase in their home values over recent years:

-The economy has been improving since 2014 which has led to more jobs being available and higher wages2 .

- Galveston has been experiencing sustained growth since 20133 .

-The population density in Galveston is lower than many other major cities4 , which allows for more housing units per square mile5 .

- Galveston is located near several major tourist destinations6 , which can lead to increased demand for homes near these areas7 .

-The availability of low interest rates8 has helped to boost homeowners’ equity9 .