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Zip Code 77448: A Unique Case of 100% Home Ownership in Hungerford, Texas
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 77448, located in Hungerford, Texas, is a small rural area with a unique demographic profile. This zip code has experienced significant fluctuations in population over the years, with a notable increase in recent times. The area has maintained a consistently high rate of homeownership, reaching 100% in recent years, while average home prices have shown an upward trend.
The homeownership rate in zip code 77448 has seen a steady increase over the years, reaching 100% by 2019 and maintaining that level through 2022. This trend coincides with a gradual increase in population, from 48 residents in 2020 to 93 in 2022. The consistent rise in homeownership suggests a strong preference for owning rather than renting in this community, possibly due to its rural nature and the stability it offers to residents.
Federal interest rates have played a significant role in shaping homeownership trends in zip code 77448. From 2010 to 2021, interest rates remained historically low, hovering between 0.08% and 2.16%. This period of low interest rates likely contributed to the increase in homeownership, as it made mortgage financing more affordable for potential buyers. The rise to 100% homeownership by 2019 aligns with these favorable borrowing conditions.
Due to the 100% homeownership rate in recent years, there is no data available on renter percentages or average rent prices for zip code 77448. This absence of rental market data suggests that the community is primarily composed of owner-occupied homes, with little to no rental properties available.
In 2023 and 2024, the average home price in zip code 77448 reached $144,587. This figure represents the current market value of homes in the area. Concurrently, federal interest rates have increased significantly, rising to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership trends and affordability in the area.
Looking ahead to the next five years, based on the current data and trends, we can expect the average home prices in zip code 77448 to continue their upward trajectory. Assuming a modest annual appreciation rate of 3-4%, average home prices could potentially reach around $170,000 to $175,000 by 2029. However, the higher interest rates may moderate this growth, as increased borrowing costs could affect demand and affordability.
In summary, zip code 77448 in Hungerford, Texas, has demonstrated a strong preference for homeownership, reaching and maintaining a 100% rate in recent years. This trend has been supported by historically low interest rates and a gradual increase in population. The average home price of $144,587 in 2023-2024 reflects the current market conditions, while the rising interest rates may influence future homeownership patterns and price appreciation in this rural community.
