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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 $162,554, lower than the Indiana average of $232,932.
The average cost of rent is $645/mo in 47516, primarily driven by the current value of real estate in the 47516 area. In 47516, 12.21% of households rent, and 40.43% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 47516 is $5,733 per month. Households that rent pay about 11.25% of their income on rent here. 47516’s most expensive areas are in the northern regions, while the cheapest areas are in the southeastern 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
- 47573, IN: less expensive homes
- 47512, IN: less expensive homes
- 47561, IN: less expensive homes
- 47591, IN: equally priced homes
- 47597, IN: less expensive 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: equally priced homes
- 41348, KY: less expensive homes
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