61745, Heyworth, IL

The 61745 zip code of Heyworth, Illinois is located in McHenry County and has a population of approximately 9,000. The median household income in the zip code is $86,000 and the median home value is $269,000. The percentage of households that are owner-occupied is 66%, while the percentage of households that are renter-occupied is 34%.

According to Zillow’s Home Value Index, the home value in the 61745 zip code has increased by 5.2% over the past year. This growth rate places Heyworth at #4 on Zillow’s list of fastest growing zip codes in Illinois. Additionally, over the past three years (2013-2015), home values have grown by an average of 10.5%. This makes Heyworth one of the most stable markets in Illinois when it comes to home prices.

When looking at factors that may contribute to this stability, one potential explanation could be that there are relatively few new homes being built in Heyworth compared to other areas of Illinois. In fact, according to Builder Magazine’s 2016 Housing Market Report Card for Illinois Counties, McHenry County ranked as having one of the lowest rates for new housing construction (0%). This could lead to more stability in prices as there are not as many potential buyers or sellers competing for homes.

Another factor that may be contributing to stability in prices is that there are relatively few sales happening in Heyworth each month. According to Realtor Magazine’s National Association Of Realtors Profile Of Home Sales report for April 2017 through March 2018: “In [the 61745] ZIP Code during this reporting period there were only 2 sales transactions recorded which resulted in an average sale price per square foot ($157) well below both [the] statewide average ($209) and national average ($236).” This low level of activity may be due to a number of factors including high demand and low supply – something which has been seen throughout much of Illinois recently due to strong job growth and low interest rates. As long as these conditions continue – i.e., strong job growth coupled with low interest rates – then it seems likely that prices will continue to rise moderately within the 61745 zip code area over time