60124, Elgin, IL

The 60124 zip code of Elgin, IL has a median home value of $128,000 and a median home equity of $101,000. This is higher than the Illinois median home value of $106,500 and the national median home equity of $102,200. The 60124 zip code also has a lower homeownership rate than the Illinois rate of 66.7% and the national rate of 69.2%.

There are several factors that may contribute to the high home values in the 60124 zip code. One reason may be that Elgin is a well-educated city with a large number of employed professionals. Another factor may be that Elgin is located in an affluent area with plenty of available housing stock. Finally, Elgin residents may be more likely to spend their money on housing rather than other items, which could lead to higher home values.