61701, Bloomington, IL

The home equity and home prices in the 61701 zip code of Bloomington, IL are very high. The median home value in this zip code is $269,000, which is more than double the national median home value of $123,500. Additionally, the percentage of homes in this zip code that are worth more than $300,000 is among the highest in Illinois.

One reason for these high home values and percentages is that Bloomington has a high population density. In fact, there are nearly twice as many people living in this zip code than there are homes. This high population density leads to increased demand for housing and higher home values.

Another factor contributing to the high home values and percentages in this zip code is the presence of prestigious universities such as Indiana University Bloomington and DePauw University. These universities attract a large number of highly-educated residents who can afford to purchase expensive homes.

Despite these factors, not everyone in the 61701 zip code can afford to purchase a house at these elevated prices. In fact, approximately one-third of households in this zipcode have incomes below the poverty line. This means that many families who want to buy a house cannot do so due to their income level alone.