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These days, finding an affordable place to live in the 47118 area can be challenging. Home prices in 47118 are now at a median cost of $128,182, lower than the Indiana average of $232,932.
The average cost of rent is $676/mo in 47118, primarily driven by the current value of real estate in the 47118 area. In 47118, 11.84% of households rent, and 52.12% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 47118 is $3,744 per month. Households that rent pay about 18.05% of their income on rent here. 47118’s most expensive areas are in the southwestern regions, while the cheapest areas are in the western 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
- 47123, IN: less expensive homes
- 47174, IN: less expensive homes
- 47175, IN: less expensive homes
- 47140, IN: equally priced homes
- 47116, IN: less expensive homes
- 47145, IN: higher priced homes
- 47513, IN: higher priced homes
- 47115, IN: higher priced homes
- 47125, IN: higher priced homes
- 47521, IN: higher priced homes
Zip Codes with Similar Populations
- 29047, SC: higher priced homes
- 08097, NJ: higher priced homes
- 15846, PA: higher priced homes
- 79235, TX: less expensive homes
- 55705, MN: higher priced homes
- 65013, MO: higher priced homes
- 49650, MI: higher priced homes
- 35143, AL: higher priced homes
- 95442, CA: higher priced homes
- 62417, IL: less expensive homes
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