46706, Auburn, IN

The 46706 zip code of Auburn, IN has a median home value of $128,000 and a median home equity value of $141,000. The average household income in the 46706 zip code is $60,000. The 46706 zip code has a population of 10,898 people.

Auburn is located in the northwest corner of Indiana and is bordered by Michigan to the north, Ohio to the east, Louisville to the south and West Lafayette to the west. The city was founded in 1836 and became known as "The Automobile Capital of America" because it was home to several automobile manufacturers including Ford Motor Company and General Motors Corporation. Auburn's economy is based on manufacturing (automobiles), education/research ( Indiana University-Purdue University Indianapolis), health care ( Auburn Regional Medical Center) and government services/defense contracting. In recent years Auburn's economy has diversified with growth in information technology (IBM) and biotechnology companies.

Home prices have increased significantly over the past five years in the 46706 zip code according to data from Zillow.com . In January 2013, Zillow reported that the median home value was $116,500 while in January 2017 it had increased to $128,000. Over this same period home equity values also increased from an average of $131,500 in January 2013 to an average of $141,000 in January 2017 - an increase of 14%. This indicates that homeowners have seen their homes' values increase at a faster rate than their overall incomes during this time period which may be indicative of strong demand for housing within this area or possibly due to low interest rates which make borrowing more affordable for buyers.

There are several factors that could contribute to increasing home values within a given area including population growth (more people means more demand for housing), increases in wages or salaries (due to increasing job opportunities), inflationary pressures (as prices rise faster than wages), improvements made by property owners such as new construction or remodeling work etc. While it is impossible to determine which specific factors are responsible for driving up prices within a given area over time it is interesting to note that all three counties surrounding Auburn – White County , Brown County , and Starke County – have experienced significant increases in home values since 2013 according to data from Zillow . This suggests that there may be some underlying drivers at work across multiple counties within Indiana which are contributing towards higher prices statewide across many markets .

In addition , according research conducted by Trulia , between October 2016 - September 2017 there were an estimated 3% more homes sold within ZIP Code 46706 compared with same period last year . This suggests that there may be some additional underlying drivers influencing demand for housing within this area such as growing consumer confidence or simply more active market conditions overall during this time period .

Overall , while it is difficultto determine exactly whyhomevalueswithinagivenareaareincreasingitisinterestingtoprovethatmultiplecountiesintheStateof Indianaareexperiencingsimilargrowthinhomevaluesovertimewhichmayindicateadeterminingfactorbehindthisphenomenon