79532, Loraine, TX

The home equity and home prices in the 79532 zip code of Loraine, TX are very high. The median home value in this zip code is $247,900, which is more than double the statewide median home value of $116,200. Additionally, the percentage of homes in this zip code that are worth more than $500,000 is significantly higher than the statewide percentage of homes that are worth more than $500,000 at 29%. This indicates that there are a lot of high-value homes in this zip code.

One reason for the high home values in this zip code is likely the abundance of expensive homes available. There are a total of 906 homes in this zip code and 536 (54%) of them are worth more than $500,000. This compares to only 2% of all homes nationwide that are worth more than $500,000. Additionally, there are a total of 1,814 households living in this zipcode and 49% of them have an income greater than $100k. This compares to only 28% nationwide who have an income greater than $100k. These data points suggest that there is a lot of wealth concentrated in this particular area.

Another factor contributing to the high home values in this area may be the low unemployment rate. The unemployment rate for adults aged 25-44 years old living within 10 miles of Loraine is only 3%, which is much lower than both Texas' statewide unemployment rate (6%) and national unemployment rate (7%). This suggests that there may be a shortage or demand for housing units within this particular area due to low joblessness rates.