60018, Des Plaines, IL

The 60018 zip code of Des Plaines, Illinois is home to a population of over 143,000 people. The median household income in this zip code is $101,827 and the median home value is $269,500. Home equity in this zip code has increased by 10% over the past year and home prices are up 6%.

There are a number of factors that contribute to the increase in home equity in this zip code. One reason is that there has been an increase in demand for housing due to increasing wages and employment opportunities. Additionally, interest rates have remained low which has helped to stimulate the market for homes. Finally, Des Plaines has seen strong growth over the past few years which has contributed to increased demand for housing.

Despite these positive trends, there are some challenges that could affect home values in the 60018 zip code in the future. One potential issue is if interest rates rise significantly from their current levels. If this happens, it could lead to a decrease in demand for homes and consequently a decrease in home equity values. Another potential issue is if there are any major economic downturns which would cause a decrease in employment opportunities and wages as well as an increase in consumer debt defaults. In either case, if homeowners experience significant decreases in their home equity values it could have a negative impact on their overall financial stability.