79007, Borger, TX

Home Equity and Home Prices in the 79007 Zip Code of Borger, TX

The home equity and home prices in the 79007 zip code of Borger, TX are very high. The median home value in this zip code is $236,000, which is more than double the national median home value of $106,500. The average home value in this zip code is also much higher than the Texas average of $152,700. This indicates that there are a lot of homes in this zip code that are worth a lot more than average.

One reason for this high level of home values may be the fact that Borger is a relatively affluent area. The percentage of households earning over $100,000 per year is above the state average and well above the national average. Additionally, there are a lot of people who own their homes outright or who have mortgages that are not too large relative to their incomes. These factors may contribute to high levels of homeownership and therefore high levels of home equity.

Another factor that may contribute to high levels of home equity in this zip code is low interest rates. Interest rates have been relatively low for a long time now, which has helped to increase homeownership and thereforehome values across the country. In addition, Borger has an abundanceof affordable housing options available which may also help to keep prices high here. Low interest rates meanthat people can borrow money against their homes without having to worry about paying very high interest rates. This makes it easier for peopleto buy homes and increase their equity holdings over time.