46580, Warsaw, IN

The 46580 zip code of Warsaw, Indiana has a population of around 10,000 people. The median household income in this zip code is $60,000 and the median home value is $130,000. Home equity in this zip code is very high compared to other zip codes in Indiana. Around one-third of households in Warsaw have at least 50% equity in their homes. This is much higher than the statewide average of around 20%.

One reason for this high home equity is that Warsaw has a high rate of homeownership. Around 80% of households in Warsaw are owner-occupied, which is much higher than the statewide average of 63%. This high rate of homeownership may be due to the low rates of foreclosure and delinquency in Warsaw. Additionally, many people who live in Warsaw own their homes outright rather than using a mortgage or other form of loan. This gives them more control over their financial situation and may make it easier for them to get access to financing if they need it.

Another reason for the high home equity in Warsaw is that there are a lot of expensive homes available for sale here. The median list price for homes sold in Warsaw was $179,500 last year, which was much higher than the statewide median list price of $119,500. This indicates that there are a lot of wealthy people living in Warsaw and able to afford to buy expensive homes. It's also likely that some people who live in Warsaw have invested money into their home equity and are not looking to sell anytime soon.