62234, Collinsville, IL

Collinsville, Illinois is located in the 62234 zip code. According to the 2010 census, Collinsville has a population of 10,824. The median household income was $50,972 and the median family income was $60,000. The percentage of families living below the poverty line was 3%. Home equity in Collinsville is high compared to other areas in Illinois. In 2009, the home equity for homes in Collinsville was $137,200 on average. This is significantly higher than the state average of $76,600 and national average of $104,900.

One reason for this high home equity is that Collinsville has a low rate of foreclosure activity. In 2009 there were only six foreclosures recorded in Collinsville which is lower than both the state and national averages. Another factor contributing to high home equity in Collinsville may be its low rate of unemployment. In 2009 only 5% of workers were unemployed which is lower than both the state and national averages. These factors are likely contributing to high home equity because homeowners have more money available to invest in their homes since they are not worried about losing their homes due to unemployment or foreclosure rates.