62448, Newton, IL

Newton is a small town located in the Chicago metropolitan area. According to the 2010 census, the population of Newton is 9,859. The median household income in Newton is $87,527, which is higher than the Illinois median household income of $60,594. The home equity and home prices in Newton are high compared to other areas of Illinois.

The average home value in Newton was $224,000 as of September 30, 2016. This represents a growth rate of 5% over the past year and a growth rate of 10% over the past five years. The average home equity in Newton was $137,000 as of September 30, 2016. This represents a growth rate of 7% over the past year and a growth rate of 11% over the past five years.

The reason for this high level of home equity and home prices in Newton may be due to several factors. First, there are relatively few homes for sale in Newton compared to other areas of Illinois. Second, many homes that are available for sale have already been sold or are under contract within minutes or hours after being listed on the market. Third, there is a high demand for housing in Newton due to its proximity to major metropolitan areas such as Chicago and Springfield (which are both about an hour away). Fourth, many people who live in Newton own their homes outright rather than using mortgages or other forms of financing which may lead to higher levels of home equity and home prices. Fifth, there is little competition for properties within Newton which may lead to higher levels of pricing power for sellers and landlords alike. Sixth, residents within Newton generally have good credit scores which may also contribute to high levels of home equity and home prices