79936, El Paso, TX

The El Paso, TX 79936 zip code has a population of about 1.5 million people and is located in the southeastern corner of the state. The median home value in this zip code is $159,900, which is about $30,000 below the statewide median home value of $209,500. The percentage of homes in this zip code that are owner-occupied is about 68%, which is lower than the statewide percentage of owner-occupied homes (74%). About 26% of homes in this zip code are vacant, which is higher than the statewide vacancy rate of 21%.

There are a number of factors that may contribute to the lower home values in El Paso compared to other parts of Texas. One reason may be that El Paso has a lower population density than other parts of Texas and so there are fewer homes for sale. Additionally, El Paso has had a slower growth rate over the past few years than other parts of Texas and so there are fewer new homes being built. Finally, El Paso has a higher unemployment rate than other parts of Texas and so there are more households that cannot afford to buy or rent a home.

Despite these factors, there have been some signs that home values in El Paso may be starting to increase again. For example, sales prices have been increasing faster than inflation over the past few years and inventory levels have been decreasing relatively slowly. Additionally, mortgage rates have remained relatively low throughout most of 2018 despite increasing interest rates elsewhere around the country. These trends suggest that buyers may be starting to become more interested in purchasing homes in El Paso again despite its lower home values relative to other parts of Texas.