62361, Pearl, IL

The Pearl, Illinois 62361 zip code has a median home value of $119,000 and a median home equity of $102,000. These values are significantly lower than the statewide median home value of $177,500 and statewide median home equity of $146,200. The Pearl zip code also has a significantly lower homeownership rate than the statewide homeownership rate of 68%.

There are several factors that may contribute to the low home values in the Pearl zip code. First, there is a high percentage of vacant homes in this area. This may lead to decreased demand for housing and increased prices for properties that are available. Additionally, the Pearl zip code has a higher percentage of single-family homes than other areas in Illinois. This may lead to decreased demand for multi-unit dwellings and increased prices for single-family homes. Finally, there is a high concentration of low-income households in the Pearl zip code. This may lead to decreased demand for housing and increased prices for properties that are available.