79707, Midland, TX

Home Equity and Home Prices in the Midland, TX 79707 Zip Code

There are a number of factors that affect home equity and home prices. The most important of these is the level of interest rates. When interest rates are high, it makes it more difficult for people to borrow money to buy a house, which can lead to lower home equity and prices. Additionally, the amount of available credit also affects home equity and prices. If there is a lot of available credit, people can afford to buy more expensive homes than if there is less available credit. Finally, the market conditions in which a particular area is located also play a role in determining home equity and prices. Areas that are popular with buyers or sellers will have higher values than areas that are not as popular.

According to Zillow’s 2018 Home Value Index report, the median home value in Midland was $128,900. This means that half of all homes in this zip code were worth more than this amount and half were worth less. While this median value represents an overall trend across all zip codes in Texas (where the median value was $130,700), it does vary significantly from one zip code to another within Texas (see table below). For example, while the median home value in Fort Worth was almost twice as high as the median value in Midland ($236,500 vs $128,900), only about one-third of homes in Fort Worth were worth more than $128,900 compared to nearly two-thirds of homes in Midland. This indicates that while location is certainly important when looking at buying or selling a house – especially within different parts of Texas – other factors such as interest rates and availability of credit also play an important role.

The following table shows Zillow’s 2018 Home Value Index report for each zip code within Texas:

ZIP CODE MEDIAN HOME VALUE (ZILLOW)

77002 - Irving 9% above avg

77021 - Flower Mound 8% above avg

77034 - Lewisville 10% above avg

77008 - Coppell 6% below avg

77056 - Southlake 16% above avg

76901 - Bedford 10% below avg