62801, Centralia, IL

The Centralia zip code of 62801 has a median home value of $128,000. This is significantly lower than the Illinois zip code median of $236,500. The Centralia zip code also has a much lower percentage of homes with a mortgage than the Illinois zip code. Approximately 54% of homes in the Centralia zip code have a mortgage, while only 43% of homes in the Illinois zip code have a mortgage.

There are several factors that may contribute to this difference in home values between the Centralia and Illinois zip codes. One potential explanation is that Centralia is located in an area that has experienced significant economic decline over the past several years. This could lead to fewer homeowners who are able to afford to sell their homes at high prices, and could also lead to less demand for properties in the Centralia zip code.

Another potential explanation for the discrepancy in home values between the Centralia and Illinois zip codes is that Centralia is located in an area with a higher concentration of low-income households than areas near Chicago. This could lead to lower home values due to increased competition from buyers who are willing to pay more for properties in areas with low-income populations.