62807, Alma, IL

The 62807 zip code of Alma, Illinois has a median home value of $129,900. This is lower than the Illinois median home value of $157,600. The Alma zip code also has a lower than average home equity of $41,700. This means that most homeowners in this zip code are not able to use their home equity to pay off other debts or expenses.

There are several factors that could contribute to the low home equity and home prices in the Alma zip code. One reason may be that there is a high percentage of homeowners who are underwater on their mortgages (meaning they owe more on their homes than the homes are worth). Another reason may be that there is a low number of homes available for sale in this zip code. Finally, it is possible that many homeowners in this zip code do not have enough money saved up to buy a house outright.