79240, Lelia Lake, TX

Home Equity and Home Prices in the 79240 Zip Code of Lelia Lake, TX

The zip code of 79240 located in Lelia Lake, Texas has a median home value of $142,000. This is significantly higher than the national median home value of $123,500. The average home size in this zip code is 2,819 square feet. Approximately one-third (32%) of homes in this zip code are owner-occupied while two-thirds (66%) are occupied by renters. The majority (81%) of homes in this zip code were built between 1990 and 1999. There has been an increase in the number of homes being built since 2000 (+10%). In terms of age distribution, there is a significant percentage (41%) under the age of 35 living in this zip code while only 27% are over the age of 65.

There have been a number recent trends affecting home values and prices within the 79240 zip code including: an increase in population (+5%), an increase in demand for housing (+10%), and an increase in interest rates (+0.25%). Despite these trends, it appears that there is still strong demand for housing within this area which may be contributing to elevated home values. Additionally, many homeowners may be able to benefit from refinancing their mortgages to take advantage of low interest rates which could further boost their home equity values.