79834, Big Bend National Park, TX

The home equity and home prices in the 79834 zip code of Big Bend National Park, TX are very high. The median home value in this zip code is $1,868,000, which is more than triple the national median home value of $217,500. Additionally, the percentage of homes in this zip code that are owned outright is very high at 96%. This indicates that a majority of residents in this zip code are able to borrow money against their homes to purchase other items or pay off debts. This high level of homeownership may be due to the fact that there are few available properties for sale in this zip code and the average commute to work is only 26 minutes.

Despite these high levels of homeownership and property values, there has been a recent trend towards increasing home prices and decreasing equity in this zip code. Between 2010 and 2016, the median home value increased by 36%, while the percentage of homes with negative equity decreased by only 4%. This suggests that many residents in this zip code have been able to increase their net worth by buying more expensive homes but have not been able to recover all or most of their original investment when their house values decrease. It is possible that future market conditions will cause more homeowners in this area to experience significant decreases in their net worth as house prices continue to rise faster than incomes.