60942, Hoopeston, IL

The home equity and home prices in the 60942 zip code of Hoopeston, IL are reflective of the overall market conditions in this area. The median home value in this zip code is $128,000, which is lower than the statewide median home value of $217,500. However, the average home value in this zip code is higher than the statewide average because there are a greater number of expensive homes available for sale. Additionally, the percentage of homes that are owned outright (rather than being financed through a mortgage) is lower in this zip code than statewide averages. This suggests that homeowners here have more equity in their homes and are less likely to need to borrow money to purchase a house.

Overall, homeownership rates in this area are relatively high when compared to statewide averages. In fact, approximately 71% of households living in this zip code own their homes outright (rather than relying on a mortgage). This indicates that many people who live in this area have enough equity in their homes to cover any potential losses if they were to lose their jobs or face other financial difficulties. Additionally, there has been an increase over time in the number of properties listed for sale within this zip code. This suggests that there is strong demand for housing units within this area and that buyers are able to find what they're looking for when it comes to purchasing a property.