78404, Corpus Christi, TX

The 78404 zip code of Corpus Christi, TX has a population of around 204,000 people. The median household income in this zip code is $51,000 which is lower than the national median household income of $53,046. Additionally, the homeownership rate in this zip code is just under 60% which is lower than the national homeownership rate of 67%.

One reason that the homeownership rate in this zip code is lower than the national average may be due to the fact that a higher percentage of households in this zip code are made up of renters. In fact, approximately one-third (33%) of households in this zip code are made up of renters which is higher than the national average rental share of 27%. This high rental share may be due to the fact that a higher percentage of households in this zipcode earn less than $50,000 per year. Additionally, a higher percentage (34%)of households in this zipcode have zero or negative equity in their homes which is higher than the national average share (27%).

Despite these factors, there are some indications that home prices and home equity values are increasing within the 78404 zip code. For example, between 2010 and 2016 alone home prices within this zip code increased by an average of 10%. Additionally, between 2013 and 2016 there was an increase in home equity values within this area by an average of 12%. However, despite these increases it should be noted that home prices and home equity values remain below their pre-recession levels.