78071, Three Rivers, TX

Home Equity and Home Prices in the 78071 Zip Code of Three Rivers, TX

The 78071 zip code of Three Rivers, TX has a median home value of $123,000. This is lower than the statewide median home value of $205,000. The 78071 zip code also has a lower home equity percentage than the statewide average of 63%. This indicates that more homes in the 78071 zip code are worth less than their original purchase price.

The 78071 zip code has a higher percentage of homes with negative equity (less than the statewide average) than the statewide average. This indicates that more homes in the 78071 zip code are worth less than what is owed on them, including mortgages and other loans.

There are several factors that could contribute to this trend: low interest rates have made it easier for people to borrow money to buy homes; many homeowners have taken out high-interest loans to refinance their existing mortgages; and some homeowners have been unable to make their monthly payments due to job loss or other financial difficulties.

Despite these challenges, there are still many homeowners in the 78071 zip code who are able to enjoy healthy home equity levels. In fact, according to Zillow’s 2018 Home Value report, approximately one-third (32%) of all households in this zipcode own their home outright – which is significantly higher than the statewide share of 27%. Additionally, nearly half (47%) of all households in this zipcode own their home with a mortgage – which is also above Texas’ overall share of 43%.

Overall, despite challenges faced by many homeowners in this area, there is evidence thathome values and equity levels remain relatively high compared to other parts of Texas.