61938, Mattoon, IL

The 61938 zip code of Mattoon, Illinois has a median home value of $101,000 and a median home equity value of $86,000. The average home price in the 61938 zip code has increased by 10.4% over the past year. Over the past five years, the average home price in the 61938 zip code has increased by 27%.

There are many factors that contribute to the increase in home prices in Mattoon. One reason is that there is a strong demand for homes in this area due to its proximity to major metropolitan areas such as Chicago and Springfield. Additionally, Mattoon is experiencing an influx of new residents who are seeking affordable housing options close to their jobs.

Despite these positive trends, there are also some challenges facing homeowners in the 61938 zip code. One issue is that interest rates have been relatively low for much of this decade, which has made it more difficult for people to borrow money to purchase a home. Additionally, there is a limited supply of homes available for sale in Mattoon which has driven up prices even further.