77867, Mumford, TX

Mumford, TX is located in Harris County and has a population of around 10,000. The median household income in the 77867 zip code is $72,000. Home prices in Mumford have increased significantly over the past few years, reaching an all-time high of $225,000 in December 2017. This increase has been largely due to strong demand from buyers and limited supply of homes available for sale.

There are a number of factors that have contributed to the increasing home prices in Mumford. First and foremost, the area has seen strong job growth over the past few years, which has led to an increase in demand for housing. Additionally, Mumford is located near several major metropolitan areas (Houston, Austin, Dallas) which has helped drive up demand for homes within commuting distance. Finally, Mumford is one of the most affluent neighborhoods in Harris County and there is a limited supply of properties available for purchase within this price range. As a result, home prices have increased significantly relative to other areas within Harris County.

Despite these positive factors, there are some potential risks associated with the high home prices in Mumford. First and foremost, if economic conditions weaken or change dramatically then demand for homes could decrease leading to lower home prices. Additionally, if there are any unforeseen construction delays or issues with infrastructure then this could also lead to lower home values as buyers may be unwilling to pay more for properties that may not be ready when they are ready to purchase them. Finally, although many people who live in Mumford are wealthy enough to afford expensive homes there is also a risk that rising home prices will outpace incomes growth over time causing some homeownership opportunities to become inaccessible or unaffordable for others within the community