62674, Palmyra, IL

The Palmyra, IL 62674 zip code has a population of approximately 2,000 people. The median household income in the Palmyra, IL 62674 zip code is $51,000. The median home value in the Palmyra, IL 62674 zip code is $119,000.

There has been an increase in home equity and home prices in the Palmyra, IL 62674 zip code over the past few years. In March of 2016 there was a 5% increase in home values compared to March of 2015. There was also a 3% increase in home values from December of 2014 to December of 2015. Home equity and home prices have increased by an average of 4% each year since 2013.

One reason for the increase in home equity and home prices is that there are relatively few homes for sale in the Palmyra, IL 62674 zip code compared to other areas of Illinois. There are currently only 116 homes for sale within a 10-mile radius of the Palmyra, IL 62674 zip code according to Zillow data. This compares to 1,527 homes for sale within a 10-mile radius of Chicago and 2,811 homes for sale within a 10-mile radius of Springfield according to Zillow data. This shortage of available homes has led to an increase in prices per square foot and per acre within the Palmyra, IL 62674 zip code area.

Another reason for the increase in home equity and home prices is that interest rates have remained low throughout most of 2016 and 2017 despite indications that they may be increasing soon. Interest rates have decreased from 4% down to 3% over this time period which has helped boost homeownership rates as well ashome values within certain markets across America such as Palmira’s6 26 74 zone 。 Homeownership rates have increased from 64% up to 66%. Home values have also increased due to strong demand from buyers who are able able borrow more money against their property than they would if interest rates were higher