60465, Palos Hills, IL

The Palos Hills, IL 60465 zip code has a population of about 104,000 people and an average home value of $269,000. The home equity in this zip code is $128 million. This means that the average homeowner in this zip code has a home equity of over 8%.

The Palos Hills, IL 60465 zip code has seen an increase in home values over the past few years. In 2013, the average home value was $257,000. In 2014, the average home value increased to $269,000. In 2015 and 2016, the average home values increased even further to reach an annualized value of $291,500 in 2016 and an annualized value of $309,500 in 2017.

This recent increase in home values is likely due to several factors including low interest rates and increasing demand for homes within the Palos Hills area. Additionally, there are many wealthy residents within this zip code who are likely contributing to these high values as well.

Despite these high values however, not all homeowners within the Palos Hills 60465 zip code are experiencing positive gains when it comes to their home equity. Approximately 10% of homeowners within this zip code have negative equity which means that they owe more on their homes than their homes are worth. This is likely due to some combination of low interest rates and rising prices which have outpaced wage growth over time for many residents within this area.

Overall though, homeowners in the Palos Hills 60465 zip code are doing very well when it comes to their overall housing situation relative to other areas across the country. This high level of equity is likely a key factor contributing to strong demand for homes within this area and sustained growth in house prices over time