46787, South Whitley, IN

The 46787 zip code of South Whitley, IN is located in the southwestern corner of the state and includes a mix of rural and suburban areas. Home prices in this area have been increasing steadily over the past few years, reaching a peak in 2016 before beginning to decline. At present, home prices are around $130,000, which is significantly higher than the statewide average of $86,500.

One reason for this increase in home prices is that South Whitley has experienced strong population growth over the past few years. The population has increased by about 10% since 2010, which has led to an increase in demand for housing. Additionally, South Whitley is located close to major metropolitan areas such as Indianapolis and Louisville, which has helped to drive up demand for homes.

Despite these positive factors, there are some potential risks that could lead to a decrease in home values in the future. One potential risk is that interest rates could rise significantly and make it more difficult for people to afford homes. Another potential risk is that there could be a sudden decrease in demand for homes due to economic conditions outside of South Whitley. However, overall it appears that home values are likely headed upwards over the long term and should continue to appreciate over time.