60521, Hinsdale, IL

The 60521 zip code of Hinsdale, IL has a median home value of $1,078,000 and a median home equity value of $281,000. The average home in this zip code was built in 1985 and is approximately 2,500 square feet. The average price per square foot for homes in this zip code is $236. This means that the typical home in this zip code is worth over three times the average annual income for residents. In addition to being one of the wealthiest zip codes in Illinois, Hinsdale also has one of the highest rates of homeownership in the state at nearly 97%. This high rate of homeownership likely contributes to the high median home values and home equity values found here.

While there are some factors that contribute to the high prices and rates of homeownership found in Hinsdale, such as low levels of crime and access to excellent schools, one major factor is undoubtedly the strong economy that Illinois has experienced over the past several years. Homeowners who have been able to lock down their homes during these good times have seen their property values rise significantly as a result. Additionally, since most homes in Hinsdale are owner-occupied rather than rented (a trend that is growing nationwide), owners are able to make more money from their investments than renters would be able to do. As a result, even though there may be some competition for limited housing stock due to increasing demand from newcomers and others looking for housing options near good jobs or schools, overall prices and rates remain high due to strong demand from buyers who can afford them.