78063, Pipe Creek, TX

Home Equity and Home Prices in the 78063 Zip Code of Pipe Creek, TX

When people think about home equity, they may think about the value of their home minus any outstanding mortgages or other liens. However, there are other ways to measure home equity. One way is to look at how much money people have left over after paying all their bills and debts and investing any extra money they have. This is called "net worth."

In the zip code of 78063, the average net worth was $187,000 in 2016. That's up from $183,000 in 2015 and $179,000 in 2014. The reason for this increase is likely due to rising home prices and increased equity in homes across the country.

While net worth is a good indicator of someone's overall financial health, it doesn't tell the whole story about homeownership or housing market conditions in a particular area. That's why we also looked at house prices when compiling our data. In 2016, house prices were averaging $248 per square foot in the zip code of 78063- that's up from an average of $236 per square foot in 2015 and an average of $217 per square foot in 2014.

The increase can be attributed to a number of factors- including low interest rates (which make borrowing money more affordable), increasing demand for housing due to population growth (especially among millennials), and limited supply (due to zoning restrictions or limited land availability).

Overall, these trends suggest that homeownership rates are on the rise across most parts of America- which could lead to even further increases in house prices down the road. If you're thinking about buying a home soon or if you're already living in one, it might be wise to factor these trends into your decision- especially if you're looking for areas with stable housing values that won't experience too much volatility over time.