62204, East Saint Louis, IL

The 62204 zip code of East Saint Louis, Illinois has a population of approximately 27,000 people. The median household income in this zip code is $41,000 which is lower than the national median household income of $53,046. The unemployment rate in this zip code is around 10%.

The average home value in the 62204 zip code is $50,000 which is lower than the national average home value of $205,500. Approximately 44% of homes in this zip code are owner-occupied while 56% are occupied by renters. Home equity in this zip code is low at just 2% of the median home value.

There are a number of factors that could be contributing to the low home equity in this area including high rates of unemployment and low incomes. Additionally, many homeowners may be underwater on their mortgages due to falling home values and may need to take out additional loans to cover their losses.

Despite these challenges, there are some positive trends that have emerged over time with regards to home prices and home equity in the 62204 zip code. For example, since 2010 there has been an increase of nearly 20% in the number of homes sold within this area which could be indicative of increased demand for housing stock or simply an indication that more people are becoming interested in purchasing homes here. Additionally, while homeownership rates remain relatively low compared to other areas within Illinois (around 55%), it appears that there has been an uptick recently with respect to sales and refinancing activity within this area. This suggests that despite some challenges faced by residents here when it comes to accessing affordable credit and owning a home outright, there remains potential for growth over time if current trends continue or if new initiatives are put into place by local government or businesses aimed at helping residents achieve homeownership status.