60087, Waukegan, IL

The 60087 zip code of Waukegan, IL has a population of around 58,000 people and a median home value of $181,500. The home equity in this zip code is quite high, as the median home value is nearly three times the median household income. This high level of home equity may be due to the presence of many affluent families in this area or to the relatively low rate of foreclosure activity in this area.

Despite the high level of home equity in this zip code, there are some concerns that could impact homeownership rates in the future. One potential issue is that interest rates could rise over time, which would make it more expensive for people to borrow money to buy homes. Another potential issue is that there could be a housing market crash, which would lead to a decrease in home values and an increase in mortgage debt. However, based on current trends it seems unlikely that either of these issues will have a significant impact on homeownership rates in the 60087 zip code over the next few years.