79027, Dimmitt, TX

Home Equity and Home Prices in the 79027 Zip Code of Dimmitt, TX

The home equity and home prices in the 79027 zip code of Dimmitt, TX are very high. In fact, according to Zillow, the median home value in this zip code is $252,000. This is much higher than the national median home value of $177,500. Furthermore, the percentage of homes that are worth more than their original purchase price is also high in this zip code. According to Zillow, 54% of homes in this zip code are worth more than their original purchase price. This is much higher than the national average of 33%.

One reason for these high home values and percentages is likely because there are a lot of wealthy people living in this zip code. According to Forbes magazine, there are a total of 10 billionaires living in Dimmitt. This includes several members of the Gates family who own Microsoft Corporation. Additionally, there are several other wealthy families living in this area including the Bass family who own Bass Pro Shops and Gregg Popovich who owns basketball team San Antonio Spurs. These wealthy individuals likely contribute to the high home values and percentages by purchasing expensive homes that typically appreciate over time.

Despite these high home values and percentages, it's important to keep in mind that not everyone can afford to live in a highly-valued area like Dimmitt. In fact, according to The Daily Review Online (TRO), only 5% of households earning less than $30k per year can afford a house worth more than $200k without taking on additional debt or using savings or selling assets." Therefore, while it may be possible for some people with enough money to live in this area, it's not likely for most people who don't have an extremely high income or wealth level.