61427, Cuba, IL

The 61427 zip code of Cuba, Illinois has a population of around 5,000 people. The median household income in this zip code is $41,000 which is lower than the national median household income of $53,046. The homeownership rate in this zip code is around 62% which is lower than the national homeownership rate of 69%. The percentage of households that are renter occupied is around 38%.

There has been a decline in home prices in the 61427 zip code over the past few years. In January 2017, the median home price was $130,000 which was down from $140,000 in January 2016. Over the past three years (2015-2017), there has been a decline in home prices by -10%. However, over the past five years (2013-2017), there has been an increase of +8%. This suggests that while home prices have decreased overall within this zip code since 2013, they are still increasing compared to other areas within Illinois.

One reason for this could be that Cuba is a relatively new community and it still has some development potential. Additionally, many homes within this zip code are owner-occupied rather than being rented out so they may not be as exposed to market fluctuations as rental properties would be.

Despite these decreases in home values however, it's important to keep in mind that individual neighborhoods can vary significantly from one another and so what might be worth less on one street might be worth more on another street nearby. So if you're thinking about buying or selling a property within this zip code it's always best to consult with an experienced real estate agent who can give you an accurate estimate of what your property's worth based on current market conditions and your specific location within Cuba.