77571, La Porte, TX

Home Equity and Home Prices in La Porte, TX

The La Porte, TX 77571 zip code has a median home value of $128,000. This is higher than the Texas median home value of $106,500. The La Porte area has seen an increase in home equity over the past few years. In 2007, the median home equity was $72,000. By 2016 that number had increased to $128,000. This trend is likely to continue as more people are able to afford homes in this area.

There are a number of factors that have contributed to this increase in home equity. One reason is that the cost of living has remained relatively stable over the past few years while wages have increased modestly. Additionally, there is a large population of young adults who are able to afford homes due to low interest rates and strong job markets. Finally, many homeowners have taken advantage of low interest rates by refinancing their homes multiple times over the past few years.

Despite these positive trends, there are some risks associated with having high levels of home equity. If interest rates rise or if the housing market takes a downturn, many homeowners could find themselves struggling to pay off their mortgages or loans on their homes. Additionally, if someone loses their job or experiences other financial difficulties they may be unable to make payments on their mortgage or loan and could lose access to their home equity altogether