60516, Downers Grove, IL

Downers Grove, Illinois is located in Cook County and has a population of around 103,000. The median household income in Downers Grove is $101,000 and the median home value is $287,500.

The 60516 zip code has a population of homeowners who have an average equity of $137,000 and an average home value of $287,500. This means that the majority of homeowners in the 60516 zip code are able to borrow against their homes to finance various expenses. Additionally, the homeownership rate in Downers Grove is 73%. This high ownership rate indicates that most people in the 60516 zip code are able to take advantage of the stability and security that comes with owning a home.

One important factor to consider when analyzing home equity and home prices in Downers Grove is the fact that there are a large number of affluent residents living in this area. As a result, there is a higher demand for homes than there are available units. In addition, many people who live in Downers Grove own multiple properties which contributes to the high levels of home equity and home values.