The housing market in 60501 Summit, IL is flourishing. The median value of a home in this area is $213,200, which is significantly lower than the U.S. average of $338,100. However, homes in 60501 Summit, IL have seen an impressive increase in value over the last year, with an appreciation rate of 9.58%, which is higher than the national average of 8.27%. This indicates that this area may be a great option for those who are looking to invest in real estate or purchase a new home at a more affordable rate.
The median home cost in Summit (zip 60501) is $213,200. Home appreciation the last 10 years has been 59.2%. Home Appreciation in Summit (zip 60501) is up 14.1%.
Average Age of Homes
- The median age of Summit (zip 60501) real estate is 68 years old
The Rental Market in Summit (zip 60501)
- Renters make up 38.9% of the Summit (zip 60501) population
- 1.5% of houses and apartments in Summit (zip 60501), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.