62060, Madison, IL

Madison, IL is a city located in Madison County, Illinois. As of the 2010 census, the city had a population of 36,527. The 62060 zip code covers much of the eastern portion of Madison. Home prices in this area have seen significant appreciation over the past several years. According to Zillow, the median home value in this zip code was $183,200 as of February 2017. This represents an increase of over 60% from the median home value in 2009 ($116,600).

One reason for this appreciation is that Madison is located in one of Illinois' most desirable areas. The city has a strong economy with a high rate of employment and low rates of poverty and crime. Additionally, Madison is within close proximity to major metropolitan areas such as Chicago and St Louis. These factors have contributed to high demand for housing in this area and consequent appreciation in home values.

Another factor contributing to increased home values is low interest rates. Since 2007, interest rates have been relatively low compared to historical averages which has helped spur investment in residential property throughout the country. Low interest rates also make it more affordable for people to borrow money to purchase homes outright or refinance their existing mortgages into more affordable terms.

Despite these positive trends, there are some risks associated with buying or owning a home in Madison right now:

-The market may become saturated and prices may decline;

-The economy could experience another recession which would lead to fewer jobs and lower incomes;

-The Federal government could take action that could negatively impact the housing market (e.g., raising taxes or implementing new regulations).