62638, Franklin, IL

The 62638 zip code of Franklin, IL has a median home value of $128,500 and a median home equity value of $86,000. These values are higher than the Illinois median home value of $101,600 and the national median home equity value of $106,200. The reason for this discrepancy is likely due to the high concentration of affluent families in this zip code. In addition, Franklin is located in Cook County which has one of the highest concentrations of college graduates in the United States. This combination has led to increased demand for housing and consequently increased prices.

Despite these high values, there are still many homeowners who are able to get mortgages that allow them to purchase homes within their budget. The majority of homes in this zip code were built between 1990 and 1999 which means that they are generally newer and have more features than homes built during earlier decades. This makes them more affordable for first-time buyers who may not be able to afford more expensive homes or those who have had their credit score lowered by an adverse event such as a foreclosure or bankruptcy.

In addition to being affordable, Franklin homes also tend to be spacious and well-maintained. This is likely due to the fact that most homeowners here are either retired or have full-time jobs that do not require them to live in close proximity to others. As a result, they are able to devote more time and resources towards maintaining their properties instead of dealing with repairs on a regular basis.