46733, Decatur, IN

Decatur, Indiana is a city located in the southeastern corner of the state. As of the 2010 census, Decatur had a population of 31,527. The city is home to DeKalb College and has been designated as a Tree City USA by the National Arbor Day Foundation.

The Decatur zip code 46733 has a median household income of $50,811 and a median house value of $128,000. The percentage of households earning over $75,000 is above the state average and there are more than twice as many households earning over $100,000 compared to Indiana as a whole. Home equity in Decatur is also high with nearly two-thirds (64%) of households owning their homes outright or with a mortgage that is less than 90% of their home's value. This compares favorably to Indiana where only about one-third (34%)of households own their homes outright or have mortgages that are less than 90% of their home's value.

There are several factors that may contribute to these high levels of home equity in Decatur:

1) The city has seen strong job growth over the past few years which may have led to increased incomes and increased demand for housing;

2) The city has relatively low rates of foreclosure and bankruptcy which may indicate that homeownership is viewed as more stable here;

3) The availability of affordable financing options may be another factor – Decatur has one of the lowest interest rates for mortgages in Indiana which could make buying a home more affordable;

4) Finally, Decatur's demographics may play an important role – families here are likely wealthier than families statewide on average due to higher incomes and greater access to capital resources. Taken together, these factors suggest that homeownership and home equity levels in Decatur are particularly high relative to other parts of Indiana.