61231, Aledo, IL

The home equity and home prices in the 61231 zip code of Aledo, IL are very high. The average home value in this zip code is $224,000, which is more than double the Illinois median home value of $106,500. Additionally, the percentage of homes in this zip code that are worth more than $200,000 is significantly higher than the Illinois statewide percentage of 5%. This indicates that there are a lot of high-value homes in this area.

One possible explanation for why the home values in this zip code are so high is that there are a lot of affluent residents here. According to Census data, the median household income in this zip code is $111,000, which is much higher than the Illinois median household income of $62,500. It's also worth noting that Aledo has a relatively low unemployment rate (3%) compared to other parts of Illinois (5%). This may help to explain why there are so many wealthy homeowners here.

Another factor that could contribute to high home values in this area is the availability of land. Aledo is located on a large tract of land near Lake Michigan and it has been developed rapidly over the past few decades. This may be contributing to increased demand for property here and higher prices for homes.