78602 ZIP Code Housing Market
$378,613median sale price
Quick answer: The median home sale price in ZIP code 78602 is $378,613, up 5.3% year-over-year. Homes sell in an average of 127 days with 328 active listings. The market is currently a leaning buyer's.
78602 market data
| Metric | Value |
|---|---|
| Median sale price | $378,613 |
| Median list price | $389,000 |
| Year-over-year price change | +5.3% |
| Average days on market | 127 days |
| Active inventory | 328 listings |
| Sale-to-list price ratio | 96.5% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated weekly
The 78602 zip code, located in McGregor, TX, is currently classified as a leaning buyer's. The median sale price stands at $378,613, representing a +5.3% change year over year. Homes in this area spend an average of 127 days on the market before going under contract. There are currently 328 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 78602 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
130
Last 12 weeks
Days on market
127
Average pace
Active listings
328
Sale-to-list
96.5%
Below asking
Market trends
Market analysis for 78602
The 78602 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, homes are selling at approximately 96.5% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 78602 have increased +5.3% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 78602 stands at $351,089, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,876 per month. This gives a price-to-rent ratio of approximately 15.6, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
38,190
Median income
$89,968/yr
Median age
37.2 years
Owner-occupied
7076.0%
College grads
2962.0%
Avg commute
38.09 min
Living in 78602
Zip code 78602 is home to approximately 38,190 residents. The median household income is $89,968 per year, which shapes the types of homes and amenities available in the area. With a median age of 37.2 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 7076.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 2962.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 38.09 minutes, which is above the national average and may reflect a suburban or exurban setting where residents trade commute time for more affordable housing or larger lots. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 78602.
Frequently asked questions about 78602
What is the median home price in 78602?
The current median sale price in 78602 is $378,613, based on recent Redfin transaction data. Prices have changed +5.3% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 78602 a buyer's or seller's market?
The 78602 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 78602?
Zip code 78602 has a population of approximately 38,190 residents. The median household income is $89,968 per year. About 7076.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 78602?
Properties Incorporated provides comprehensive data for 78602 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 78602 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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