61432, Fairview, IL

The Fairview zip code of 61432 has a population of around 9,000 people. The median household income in this zip code is $72,000, and the median home value is $236,500. This means that the home equity in this zip code is relatively high compared to other areas of the country.

One reason for this high home equity may be the low interest rates that are currently available. The average interest rate on a 30-year fixed-rate mortgage in this zip code is just 3.89%, which is much lower than the national average of 4.94%. In addition, there are a number of programs available to help borrowers get approved for a mortgage with low interest rates.

Another factor that may contribute to the high home equity in this area is the fact that many homes here are owned outright rather than being financed through mortgages or other forms of borrowing. This means that homeowners have more money available to invest in their homes and can therefore afford to pay higher prices for them than would be possible if they were financing their purchases through banks or other lenders.