61562, Rome, IL

The home equity and home prices in the 61562 zip code of Rome, IL are reflective of the overall market conditions in the area. Over the past five years, home values have increased by an average of 7.5%. This is significantly higher than the national average of 5.1%, but it is also reflective of a number of factors specific to this area.

One important factor is that Rome has seen strong population growth over the past few years, which has led to an increase in demand for homes. Additionally, there is a high level of demand for properties within desirable neighborhoods such as Fox Valley Park and Willowbrook Estates. As a result, property values in these areas have increased significantly more than values elsewhere in Rome.

Another important factor affecting home prices is interest rates. Right now, interest rates are at historic lows, which means that borrowers can get loans with lower interest rates than they would have been able to previously. This has helped to drive up home values in areas where there is a high demand for properties – such as Fox Valley Park and Willowbrook Estates – because borrowers are willing to pay more for a property that they know they can afford even if their monthly payments increase over time due to rising interest rates.