ZIP 78648 vs ZIP 78661

78648 is one of 7 ZIP codes that lie mostly in Caldwell County, TX — 76% of its own area is in the county.

Shaded by typical home value, it ranks 6 of the 7 with a value.

3 school locations in 78648: 1 elementary, 1 middle, 1 high.

In alphabetical order: GILBERT GERDES J H, LEONARD SHANKLIN EL, LULING H S. Locations only — no ratings are shown here.

78661 is one of 7 ZIP codes that lie mostly in Caldwell County, TX.

Shaded by typical home value, it ranks 7 of the 7 with a value.

1 school location in 78661: 1 high.

In alphabetical order: PRAIRIE LEA SCHOOL. Locations only — no ratings are shown here.

In January 2009 the typical home in 78648 was worth $107,734.

Values peaked at $280,762 in July 2022. The latest reading is −18.2% from that peak.

As of August 2026: $229,653, −3.8% over twelve months.

Start with the typical home: $229,653. Put 20% down and borrow $183,722 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,272 a month in principal and interest.

The median household here earns $56,533 a year, $4,711 a month. So the payment takes 27.0% of income — rated “affordable” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 12.7% in 2009.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in January 2009 (5.05%) the payment was $465.

In December 2020, with rates at 2.68%, it was $654.

By August 2026, at 6.67%, it was $1,182 — +81% since December 2020, while the home's value moved +14%.

Reported values rose +113% since January 2009.

General prices (CPI-U) rose +58% over the same span.

Divide one by the other: in August 2026 dollars, the 2009 home was worth $169,852. So the real change is +35%, not +113%.

78648: +113% since January 2009.

Caldwell County: +123% since January 2009.

Texas: +108% since January 2009 — 78648 ran ahead of it by 5 points.

Against 1,763 Texas ZIP codes, 78648 sits at the 36th percentile for affordability (price vs local income).

13th for appreciation (recent value growth); 40th for rental yield (rent vs price).

Owning the typical home costs about $1,502 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $975 a month.

Price divided by a year's rent: 19.6. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

In February 2022 the typical home in 78661 was worth $260,995.

Values peaked at $272,461 in July 2022. The latest reading is −24.6% from that peak.

As of August 2026: $205,540, −3.3% over twelve months.

Start with the typical home: $205,540. Put 20% down and borrow $164,432 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $1,138 a month in principal and interest.

The median household here earns $47,917 a year, $3,993 a month. So the payment takes 28.5% of income — rated “stretched” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 36.2% in 2022.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in February 2022 (3.76%) the payment was $969.

In February 2022, with rates at 3.76%, it was $969.

By August 2026, at 6.67%, it was $1,057 — +9% since February 2022, while the home's value moved −21%.

Reported values rose −21% since February 2022.

General prices (CPI-U) rose +17% over the same span.

Divide one by the other: in August 2026 dollars, the 2022 home was worth $306,526. So the real change is −33%, not −21%.

78661: −21% since February 2022.

Caldwell County: −10% since February 2022.

Texas: +3% since February 2022 — 78661 ran behind it by 24 points.

Against 1,763 Texas ZIP codes, 78661 sits at the 28th percentile for affordability (price vs local income).

14th for appreciation (recent value growth).

Owning the typical home costs about $1,344 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,173 a month.

Price divided by a year's rent: 14.6. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 11 a month (Redfin, 3-month rolling data through August 2026).

On the shelf — homes for sale at the end of the period: 66.

Going out — closed sales: about 5 a month. The drain is drawn 64% narrower: the share of homes for sale that sell each month is 36% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 13.2 months of supply — above the 4–6 month balanced range. In the basin, that is the water level against the shaded balanced band.

The net reading: about 6 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 5 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 5 — so sales ran at 100% of it, and below it in 13 of the last 24 months.

Across Caldwell County, builders pulled permits for 443 new homes in 2025.

Of those, 99% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

Across Caldwell County, builders pulled permits for 443 new homes in 2025.

Of those, 99% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

This ZIP sits in Caldwell County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 1,607 moved in. Among the ten receiving the most, 990 moved out.

Net across those counties: +617 households. Beside it, homes for sale in this ZIP: 66 in June 2026.

Most arrivals came from Travis, TX (681 households); most departures went to Hays, TX (315).

This ZIP sits in Caldwell County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 1,607 moved in. Among the ten receiving the most, 990 moved out.

Net across those counties: +617 households. Beside it, homes for sale in this ZIP: 1 in May 2026.

Most arrivals came from Travis, TX (681 households); most departures went to Hays, TX (315).