The average home value has been on the rise in the area in and around Lakes of Bella Terra, according to data from an analysis from The Business Journals.
The Business Journals' analysis tracked home values from the depths of the recession in August 2009 through August of this year and applied a hypothetical scenario in which homebuyers entered the market a decade ago with a 10 percent downpayment to make a purchase.
Using the Business Journals’ ROI tool, we searched for home values in the Greater Houston Sugar Land metro area and specified zip code 77406 – which showed healthy returns and a 37.8% 10-year change and a 277.9% ROI.
As of August 2019, results showed that the area's median home has appreciated to $283,700 in value, a $77,800 gain for the hypothetical homebuyer. This covered the area south of Westpark Tollway and north of Highway 90 and west of the Grand Parkway. The data is based on median home value data provided by Zillow Group.
Here is the breakdown for zip code 77406.
10-year change (%) 37.8%
10-year change ($) $77,800
ROI over 10 years 2.778533
MEDIAN HOME VALUE HISTORY**
2019 $283,700
2018 $275,300
2017 $270,200
2016 $265,600
2015 $248,500
2014 $233,700
2013 $207,700
2012 $201,200
2011 $203,100
2010 $207,400
2009 $205,900
Among the thousands of ZIP codes covered in The Business Journals' study, the median home in some 12,885 of those locations appreciated in value, with a median price change of 31% over a decade.