62640, Girard, IL

The home equity and home prices in the 62640 zip code of Girard, IL are very high. The median home value in this zip code is $269,000, which is more than triple the national median home value of $116,000. Additionally, the percentage of homes in this zip code that are worth more than $300,000 is significantly higher than the national percentage of homes that are worth more than $300,000. This indicates that there is a large number of wealthy residents in this zip code.

One reason for the high home values in this zip code is likely the high concentration of wealthy residents. Girard has a population density of just over 2 people per square mile, which is much lower than the national average population density of 5 people per square mile. This low population density may make it easier for affluent residents to find property here and may also contribute to the high home values in this zip code.

Another factor that may contribute to the high home values in this zip code are the strong economic indicators for Girard. The unemployment rate in Girard is only 3%, which is much lower than both Illinois' statewide unemployment rate (6%) and the national unemployment rate (7%). Additionally, Girard's poverty rate (14%) is much lower than both Illinois' statewide poverty rate (25%) and the national poverty rate (15%). These strong economic indicators suggest that there are many opportunities available to affluent residents in Girard.

Despite these positive economic indicators, there are some risks associated with living in Girard. One risk is that housing prices could decline if there were a recession or if interest rates increased significantly from their current low levels. Another risk related to living in Girard is crime; although crime rates have been decreasing nationally over recent years, they remain relatively high here in 62640 ZIP Code girard il .