79407, Lubbock, TX

Home Equity and Home Prices in the 79407 Zip Code of Lubbock, TX

The 79407 zip code of Lubbock, TX has a median home value of $119,000. This is higher than the statewide median home value of $117,500. The zip code also has a lower than average percentage of homeowners with a mortgage at 66%. This indicates that more people in this zip code are able to borrow money against their home equity to cover expenses or invest.

The average price per square foot for homes in the 79407 zip code is $87 which is lower than the statewide average price per square foot of $101. The number of homes sold in the 79407 zip code during 2017 was 2,872 which is lower than the statewide total for 2017 (3,977).

There are several factors that could contribute to this decrease in sales including:

-Low interest rates

-A slowdown in the housing market overall

-High prices relative to incomes In spite of these factors, there are still many opportunities available for buyers and sellers in this area. If you're looking to buy or sell a home in the 79407 zip code, please contact our office for more information.