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These days, finding an affordable place to live in the 47616 area can be challenging. Home prices in 47616 are now at a median cost of $121,793, lower than the Indiana average of $232,932.
The average cost of rent is $789/mo in 47616, primarily driven by the current value of real estate in the 47616 area. In 47616, 4.27% of households rent, and 58.10% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 47616 is $6,101 per month. Households that rent pay about 12.94% of their income on rent here. 47616’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central 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
- 62844, IL: less expensive homes
- 47631, IN: higher priced homes
- 47633, IN: higher priced homes
- 62827, IL: less expensive homes
- 62852, IL: less expensive homes
- 47612, IN: higher priced homes
- 47665, IN: higher priced homes
- 62818, IL: equally priced homes
- 62811, IL: less expensive homes
- 62806, IL: less expensive homes
Zip Codes with Similar Populations
- 72860, AR: equally priced homes
- 68304, NE: higher priced homes
- 68622, NE: higher priced homes
- 69211, NE: less expensive homes
- 71724, AR: less expensive homes
- 71972, AR: less expensive homes
- 72123, AR: less expensive homes
- 72152, AR: less expensive homes
- 72462, AR: higher priced homes
- 72752, AR: equally priced homes
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