60202, Evanston, IL

The Evanston, IL 60202 zip code has a population of around 61,000 people and is home to many affluent families. The median household income in this zip code is $101,000, which is considerably higher than the national median household income of $59,000. Home prices in the 60202 zip code have been increasing rapidly over the past few years, reaching an all-time high of $527,500 in May 2017. This rapid growth has caused some concern among local residents as the increase in home prices could lead to a housing bubble. However, there does not appear to be any evidence that the Evanston housing market is headed for a crash. In fact, according to Zillow’s latest report on home values in America’s 100 largest cities, Evanston ranks as one of the most stable markets in terms of price appreciation.

One reason why home prices have been rising so rapidly in the 60202 zip code is because there are a lot of affluent families living here. Many wealthy individuals and couples have chosen to move to Evanston over other cities because it has a high quality of life and excellent schools. Additionally, many businesses located in Evanston are well-known and respected by professionals across the country. This makes it an attractive place to live and invest money into property.

There are some concerns that the rapid growth in home prices could lead to a housing bubble if not properly managed. However, there does not appear to be any evidence that this will happen anytime soon based on recent trends. In fact, Zillow reports that only 2% of American cities have seen more price appreciation than Evanston since 2016! Therefore while it is important for local officials to monitor developments closely and take appropriate measures if necessary (e.g., implementing new regulations), it seems unlikely that we will see a major correction or crash in Evanston’s housing market anytime soon