79505, Benjamin, TX

Home Equity and Home Prices in the 79505 Zip Code of Benjamin, TX

The 79505 zip code of Benjamin, TX has a median home value of $131,000. This is higher than the statewide median home value of $119,500. The average home value in this zip code is also higher than the national average home value of $177,700. This indicates that there are more expensive homes in this zip code than elsewhere in Texas.

The percentage of homes with a mortgage in the 79505 zip code is lower than the statewide percentage of homes with a mortgage at 66%. This indicates that more people are able to borrow money to buy a home in this zip code. The percentage of homeowners who owe more on their mortgage than their home is worth is also lower in this zip code than statewide or nationally. This suggests that there are more people who are able to afford their homes despite having some debt outstanding on them.

There are many factors that contribute to the high prices and high equity levels found in the 79505 zip code. Some key factors include: a low percentage of mortgages being taken out on homes (indicating that there may be less competition for properties), relatively low rates for mortgages (compared to other areas), and an abundance of expensive homes available for sale.