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These days, finding an affordable place to live in the 47016 area can be challenging. Home prices in 47016 are now at a median cost of $245,955, higher than the Indiana average of $232,932.
The average cost of rent is $796/mo in 47016, primarily driven by the current value of real estate in the 47016 area. In 47016, 27.32% of households rent, and 56.13% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 47016 is $6,749 per month. Households that rent pay about 11.79% of their income on rent here. 47016’s most expensive areas are in the southern regions, while the cheapest areas are in the northern parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 47035, IN: higher priced homes
- 47012, IN: equally priced homes
- 45053, OH: higher priced homes
- 47060, IN: higher priced homes
- 47010, IN: higher priced homes
- 45030, OH: higher priced homes
- 47022, IN: equally priced homes
- 47030, IN: higher priced homes
- 45061, OH: less expensive homes
- 47041, IN: equally priced homes
Zip Codes with Similar Populations
- 51531, IA: less expensive homes
- 95701, CA: higher priced homes
- 96096, CA: higher priced homes
- 97410, OR: higher priced homes
- 97867, OR: less expensive homes
- 97876, OR: higher priced homes
- 55370, MN: higher priced homes
- 54526, WI: less expensive homes
- 98243, WA: higher priced homes
- 52135, IA: less expensive homes
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