61840, Dewey, IL

The 61840 zip code of Dewey, Illinois is located in the southeastern corner of the state. The area has a population of just over 10,000 and an average household income of just over $50,000. Home prices in the zip code have increased by an average of 9% over the past year, making it one of the most desirable areas to live in Illinois.

There are a number of reasons why home prices in this area have been so successful. First and foremost, Dewey is located within close proximity to major metropolitan areas such as Chicago and St Louis. This means that there is a large pool of potential buyers who are looking for homes that are within reasonable commuting distance from their jobs. Additionally, Dewey is situated on some very fertile farmland which has helped to drive up prices for homes that sit on these properties.

Despite these positive factors, there are still some risks associated with buying a home in this area. One such risk is that interest rates may rise over time which could make it more difficult for buyers to afford their homes. Additionally, there may be a shortage of available housing stock which could lead to higher prices overall if not enough people are able to purchase homes in this area. Overall though, home prices in the 61840 zip code appear to be well-priced relative to other areas of Illinois and should continue to rise over time