46383, Valparaiso, IN

The 46383 zip code of Valparaiso, Indiana has a population of around 25,000 people. The median household income in this zip code is $62,500, and the median home value is $142,000. The percentage of homes that are owner-occupied is around 78%, and the percentage of homes that are rented is around 22%.

There has been a steady increase in home equity and home prices in the 46383 zip code over the past few years. In January 2016, the median home value was $139,000. This increased to $157,500 by December 2017. Over this same period of time, the percentage of homes that are owner-occupied increased from 76% to 78%. Meanwhile, the percentage of homes that are rented decreased from 22% to 22%.

There are a number of reasons why home values have increased in this zip code over the past few years. One reason may be that there is a high demand for housing in Valparaiso due to its location close to major universities such as Indiana University Bloomington and Purdue University West Lafayette. Additionally, Valparaiso has been experiencing an influx of new residents due to its growing economy. These new residents may be able to afford more expensive housing options than those who have been living in this area for longer periods of time.

Another reason why home values have increased in this zip code may be due to low interest rates. Since lenders can earn higher interest rates on mortgages if they are lending into areas with higher demand for housing such as downtowns or affluent neighborhoods, they may be more likely to lend into areas with high home values instead. This could lead to an increase in home values if there is enough demand for these properties from potential buyers.