46122, Danville, IN

The 46122 zip code of Danville, Indiana has a median home value of $119,000 and a median home equity value of $87,000. These values are both below the statewide median home value of $146,500 and the national median home equity value of $117,200. The 46122 zip code also has a lower than average rate of homeownership at just 62%.

One factor that may contribute to the low home equity values in the 46122 zip code is its high rate of unemployment. The unemployment rate in this zip code is 8.1%, which is above the statewide unemployment rate of 6.9% and the national unemployment rate of 5.9%. Additionally, Danville residents have an average income that is below the statewide and national averages. As a result, many residents may not have enough money saved up to purchase or refinance a house.

Despite these challenges, there are some positive indicators for homeowners in the 46122 zip code. For example, homes in this area typically stay on the market for shorter periods than homes in other parts of Indiana and nationwide. Additionally, Danville residents tend to spend more on housing than people living elsewhere in Indiana or nationwide. This higher spending could be attributable to factors such as lower incomes or higher costs associated with living in this area such as property taxes or transportation expenses.