60187, Wheaton, IL

Wheaton, Illinois is a city located in Cook County, Illinois. As of the 2010 census, Wheaton had a population of 73,711. Wheaton is home to many businesses and corporations such as McDonalds, Sears Roebuck and Co., Boeing Company, and Microsoft Corporation. Wheaton also has a large number of residents who work in the Chicago metropolitan area.

The city's economy is largely based on its proximity to Chicago and its status as an affluent suburb. In recent years, however, the city's economy has been adversely affected by the Great Recession and sluggish job growth. The unemployment rate for Wheaton was 7.5% in December 2016 which is above the national average of 5%.

Despite these challenges, home prices have continued to rise in Wheaton over the past several years due to strong demand from both buyers and sellers. As of May 2017, the median price for homes in Wheaton was $269,000 which is significantly higher than the median price for homes across all of Cook County (which was $217,500).

One factor that has helped drive up home prices in Wheaton are low interest rates which have made it more affordable for buyers to borrow money to purchase a home. Additionally, there is a large number of wealthy residents living in Wheaton who are able to afford higher-priced homes.

While there are many benefits associated with owning a home in Wheaton (including stability and security), there are also some risks associated with buying or selling a home in this market environment. For example, if interest rates increase or if the market crashes completely then homeowners could find themselves facing significant financial difficulties.

Overall, despite some challenges posed by low interest rates and slow job growth (especially during the Great Recession), it appears that home prices continue to rise steadily in Wheaton over time due to strong demand from both buyers and sellers alike