62454, Robinson, IL

Home equity is the difference between what a homeowner owes on their home and the market value of their home. Home prices are the price at which homes are sold in Robinson, IL. Over the past few years, both home equity and home prices have increased in Robinson. This is likely due to several factors, including an increase in demand for housing stock, low interest rates, and limited supply of homes for sale.

According to Zillow’s 2018 Home Value Report, the median home value in Robinson was $156,200. This represents an increase of 2% from 2017 and a 6% increase from 2016. In addition, Zillow reports that the median list price was $179,900 in 2018 – an increase of 5% from 2017 and 10% from 2016. These increases suggest that there is strong demand for homes in Robinson – both by potential homeowners and by investors looking to purchase property.

However, not everyone has been able to benefit from these trends – particularly those who are not able or willing to pay higher prices for property or who do not have sufficient credit history to qualify for a mortgage. For example, according to NeighborhoodScout’s analysis of data from Realtor Association of Greater Chicago MLSs (2017), black households were nearly three times as likely as white households to live in a neighborhood where the median house value was more than $200,000 (36% vs 12%). Additionally, NeighborhoodScout found that neighborhoods with high concentrations of college students were also more likely than other neighborhoods to have high house values ($225K+). These disparities suggest that some residents may be struggling to benefit fully from rising home values – even if they are able to afford them outright.

Overall then, while there is evidence that both home equity and home prices have increased significantly over recent years in Robinson – especially among wealthier residents – it is clear that not everyone has been able or willing to take advantage of these trends. This suggests that there may be room for further growth in this area over time – provided that policies aimed at encouraging affordable housing development continue to be implemented