60957, Paxton, IL

The Paxton, Illinois 60957 zip code has a median home value of $101,000 and a median home equity of $86,000. This is significantly lower than the state average of $183,500 and the national average of $177,500. The 60957 zip code also has a significantly lower home value than the majority of its neighboring zip codes. For example, the neighboring 60960 zip code has a median home value of $158,000 while the 60962 zip code has a median home value of $182,000.

One possible explanation for this discrepancy in home values is that Paxton is located in an economically depressed area. According to Forbes magazine, the six counties surrounding Paxton have an unemployment rate above 10%. Additionally, these counties have had negative growth rates in both population and GDP since 2000. These factors may have led to decreased demand for homes and decreased prices for homes within the 60957 zip code.

Despite these challenges, there are some homeowners in the 60957 zip code who are enjoying significant increases in their home equity values over time. For example, one homeowner who purchased their house in 2006 has seen their equity increase by more than 200%! This demonstrates that even in difficult economic conditions it is possible to achieve significant increases in yourhome's value over time if you are patient and diligent about finding quality properties and making smart investment decisions.