60417, Crete, IL

The Crete, Illinois 60417 zip code has a population of approximately 5,000 people. The median household income in this zip code is $51,500 and the median home value is $128,000.

There has been an increase in home equity and home prices in the Crete, Illinois 60417 zip code over the past few years. In 2013, the median home value was $123,000 and the median home equity was $60,000. In 2014, the median home value increased to $128,000 and the median home equity increased to $67,500. In 2015, both values increased again to reach their current levels of $128,000 and $67,500 respectively.

This recent increase in home values can be attributed to several factors. First of all, there is a limited supply of homes available for purchase in this area which has led to an increase in demand for homes. Secondly, there has been an increase in jobs and wages within the Crete area which have led to an increase in disposable income available for homeownership costs (i.e., mortgage payments). Finally, there has been a decrease in interest rates over time which makes it more affordable for people to borrow money to buy a house than it was previously.

While these increases are great news for homeowners who have seen their homes values rise significantly over the past few years, they may not be good news for everyone else who lives or works near these areas. For example: if you are looking to buy a house within the Crete area but cannot afford to pay sticker price due to your high debt-to-income ratio then you may not be able to find a house that meets your needs at any price point currently available on the market. Additionally: if you are employed outside of the Crete area but live within commuting distance of this area then you may find yourself facing higher housing costs as well since wages have not kept pace with inflation rates here over recent years (thus increasing your monthly mortgage payments).