60804, Cicero, IL

The 60804 zip code of Cicero, IL has a population of around 47,000 people and is located in Cook County. The median household income in this zip code is $87,500 and the median home value is $224,000. Home equity in this zip code has increased significantly over the past few years and currently stands at around $280,000. This increase can be attributed to several factors including an improving economy and low interest rates.

There are a number of reasons why home equity in the 60804 zip code of Cicero, IL has increased so much over the past few years. Firstly, the economy has been improving steadily over the past few years which has led to more jobs being available and higher wages being paid. This means that people are able to borrow more money to buy a home and also means that house prices have risen accordingly. Secondly, interest rates have been very low for a long time now which makes it cheaper for people to borrow money to buy a home than it would otherwise be. Finally, there has been an increasing demand for housing in Cicero due to its high population density and many amenities nearby such as shopping centres and schools.

Despite these positive factors, there are still some risks associated with buying a home in the 60804 zip code of Cicero, IL. Firstly, if interest rates rise then house prices could fall back down again as borrowers will need to pay higher amounts of interest on their loans than they did previously. Secondly, if there is another recession then house prices could fall even further as people may not be able to afford to keep up with repayments on their mortgages or may lose their jobs altogether which would lead them into debt difficulties once again. Finally, although Cicero is an affluent area with plenty of amenities available nearby it is not immune from crime or other problems that can affect any neighbourhood such as vandalism or theft..