62526, Decatur, IL

Decatur, Illinois is located in the northwest corner of the state and has a population of just over 60,000 people. The 62526 zip code covers a total area of just under 10 square miles and has a median home price of $153,000. Home equity in this zip code is currently at an all-time high with homeowners having an average equity value of $269,000.

The main drivers of home equity values in Decatur are strong job growth and low interest rates. Over the past year, Decatur has seen job growth rate increase by 2%, which has led to increased demand for housing and consequently higher home values. In addition, Decatur's low interest rates have also helped to boost home values as borrowers are able to pay off their mortgages more quickly than they would if they were paying higher interest rates on their loans.

Despite these positive factors, there are some potential risks that could impact home values in Decatur in the future. For example, if economic conditions worsen or interest rates rise again then borrowers may find it harder to repay their mortgages and this could lead to decreased home equity values in the 62526 zip code. Additionally, there is always the possibility that a major fire or natural disaster could cause extensive damage to homes in the area which would reduce their value significantly.