61018, Dakota, IL

Home Equity and Home Prices in the 61018 Zip Code of Dakota, IL

The home equity and home prices in the zip code of 61018 of Dakota, Illinois are very high. This is likely due to the fact that this area is located in a desirable location, has a low crime rate, and plenty of amenities. The median home value in this zip code is $269,900 which is significantly higher than the national median home value of $177,500. Additionally, the percentage of homes that are worth more than $300,000 is also high at 27%. This indicates that there are a lot of wealthy residents in this zip code.

One reason why home values may be so high here is because there are not many available properties for sale. In fact, only 2% of homes for sale in this zip code are affordable for people who make less than $75k per year. This means that most people who want to buy a property in this area must have significant wealth already or they will need to invest a lot of money into purchasing a property.

Another factor that contributes to high home values in this zip code is the fact that there are few rental properties available. Only 3% of homes here are rented out and as such it's difficult for people who don't own their own home to find an affordable place to live. This could lead some people who can't afford to buy a property to move away from the area altogether or they may choose to live elsewhere instead where it's more affordable to purchase a house or apartment.