60484, University Park, IL

Home equity is the difference between the market value of a home and what a homeowner owes on their mortgage. In University Park, IL, home equity averaged $128,000 in 2017. This means that homeowners in this zip code had more than 12% of their home's market value left on their mortgage.

In addition to being a valuable asset, homeownership is also associated with numerous benefits such as increased stability and security in one's life, reduced stress levels from having to constantly worry about finances, and the ability to pass down assets to one's children or grandchildren.

Given these reasons, it is no wonder that home values have been increasing steadily throughout the United States over the past several years. In fact, according to Zillow®, University Park saw an average annual increase of 2.4% from 2016 through 2017 – which was higher than both the national average (1%) and the state average (1%).

While there are many factors that can influence home prices – including local economic conditions, interest rates, and availability of homes for sale – it is clear that homeownership remains a highly desirable investment option in today's marketplace.