60470, Ransom, IL

Ransom is located in the 60470 zip code in Illinois. According to the 2010 census, the population of Ransom was 1,827. The median household income was $51,875, and the median family income was $60,000. The percentage of families living below the poverty line was 2.5%.

The home equity and home prices in Ransom are very high compared to other zip codes in Illinois. The average home value in Ransom is $214,000, which is more than twice the average home value in Illinois' other most expensive zip code (Westchester County) and almost four times as high as the state's average home value of $102,500. In addition, Ransom's home equity rate is also much higher than Illinois' average rate of 5.1%. This suggests that there are a lot of homes in Ransom that are worth a lot more than what people are actually paying for them.

One possible explanation for this high level of home values and home equity rates in Ransom is that there are a lot of wealthy people living there. According to Forbes magazine's 2016 list of America's richest towns*, Ransom ranks #4 on the list with a median household income of over $100,000. In addition, according to Zillow's 2016 report on American cities with highest housing values*, Ransom ranks #2 on their list behind only San Francisco Bay Area city San Jose.* Therefore it seems likely that a large percentage of homes in Ransom are owned by people who can afford to pay a high price for them.

However, even if all homes in Ransom were owned by wealthy people who could afford to pay top dollar for them, it would not necessarily mean that everyone living there would be able to benefit from this situation. For example, if all the wealthy people living in Ransom decided to sell their homes at once and leave town (or if they all decided to buy new homes outside of town), then everyone else living there would suddenly find themselves unable to afford their own homes or have any chance at ever owning one themselves. This appears unlikely though since it seems much more likely that most or all of the wealthy residents will continue to live in town even if their house values go up significantly.* Therefore while it is true that there are a lot of valuable homes available for purchase or rent in Ramanx>, this does not mean that everyone who wants one can easily get one*