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These days, finding an affordable place to live in the 47516 area can be challenging. Home prices in 47516 are now at a median cost of $123,623, lower than the Indiana average of $175,617.
The average cost of rent is $529/mo in 47516, primarily driven by the current value of real estate in the 47516 area. While nearly 38.48% of residents own their homes outright in 47516, 16.15% rent.
Housing affordability isn’t just about home prices, though. The average household income in 47516 is $5,648 per month. Households that rent pay about 9.36% of their income on rent here. 47516's most expensive areas are in the northeastern regions, while the cheapest areas are in the northern parts of the zip.
Nearby Zip Codes
- 47573, IN: higher priced homes
- 47512, IN: less expensive homes
- 47561, IN: less expensive homes
- 47591, IN: equally priced homes
- 47597, IN: higher priced homes
- 47535, IN: less expensive homes
- 47528, IN: less expensive homes
- 47596, IN: less expensive homes
- 62439, IL: less expensive homes
- 47501, IN: equally priced homes
Zip Codes with Similar Populations
- 83118, WY: higher priced homes
- 35651, AL: higher priced homes
- 89043, NV: higher priced homes
- 89008, NV: higher priced homes
- 38371, TN: less expensive homes
- 39067, MS: less expensive homes
- 39082, MS: less expensive homes
- 39427, MS: less expensive homes
- 41216, KY: higher priced homes
- 41348, KY: less expensive homes
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