61753, Lexington, IL

The Lexington, Illinois 61753 zip code has a population of around 35,000 people and is located in the southwestern part of the state. The median home value in this zip code is $157,200 which is about 2.5 times the median home value in Illinois as a whole. Lexington's home equity rate is also much higher than the state average at around 10%. This may be due to Lexington's relatively high incomes and low unemployment rates.

There are a number of factors that may contribute to Lexington's high home equity rates. Some of these include:

-High incomes: The median household income in Lexington is above the state average, which may help to contribute to high home equity rates.

-Low unemployment rates: While not all areas with low unemployment rates will have high home equity rates, areas with lower unemployment rates tend to have higher levels of homeownership overall. This may be because more people are able to afford homes outright or because they have enough saved up for a down payment on a house.

-Low mortgage interest rates: Another factor that may contribute to high levels of homeownership in Lexington is low mortgage interest rates. This means that people can afford larger mortgages without having to worry about large monthly payments.