62831 ZIP Code Housing Market
The 62831 zip code, located in Sherrard, IL, is currently classified as a balanced market..
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 62831 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Market analysis for 62831
The 62831 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, market dynamics influence how quickly homes sell and at what price relative to their listing.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 62831 have remained relatively stable compared to last year. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 62831 stands at $144,321, which represents Zillow's estimate of the typical home value in the area. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
339
Median income
$79,464/yr
Median age
45.5 years
Owner-occupied
9548.0%
College grads
2231.0%
Living in 62831
Zip code 62831 is home to approximately 339 residents. The median household income is $79,464 per year, which shapes the types of homes and amenities available in the area. With a median age of 45.5 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 9548.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 2231.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 62831.
Frequently asked questions about 62831
What is the median home price in 62831?
Median sale price data for 62831 is currently being compiled. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 62831 a buyer's or seller's market?
The 62831 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 62831?
Zip code 62831 has a population of approximately 339 residents. The median household income is $79,464 per year. About 9548.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 62831?
Properties Incorporated provides comprehensive data for 62831 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 62831 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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