46217, Indianapolis, IN

The Indianapolis zip code 46217 has a population of over 1.5 million people and is one of the most populous in the state of Indiana. Home prices in this zip code have increased significantly over the past few years, reaching a median price of $209,000 as of September 2017. This is much higher than the statewide median home price of $146,500 and indicates that there is strong demand for homes in this area.

One reason for this high demand may be the many amenities and attractions available in Indianapolis. The city is home to several major corporations, including Eli Lilly and Company, Cummins Inc., and General Motors Co., which have contributed to its growing economy. Additionally, Indianapolis has a well-educated population with a high percentage of adults having at least some college education. This may contribute to strong job market conditions, which could lead to increased income levels and more spending on housing goods and services.

Despite these positive factors, there are also some potential risks that could affect home prices in Indianapolis over time. One potential risk is that economic conditions could worsen leading to fewer jobs available or lower wages, which would reduce household incomes and put pressure on housing prices. Another potential risk is that interest rates could rise significantly from their current low levels, making it more expensive for buyers to purchase homes or refinance existing mortgages. However, based on current trends it appears that both risks are relatively low at this point in time so long as there are no major unforeseen events or changes in economic conditions affecting the area.