46959, Miami, IN

The Miami zip code 46959 has a population of around 107,000 people and is located in the southwestern part of the state. The median household income in this zip code is around $61,000, which is lower than the statewide median of $70,000. However, home prices in this area are much higher than the statewide median. As of March 2019, the median home price in Miami was $269,900. This is more than double the statewide median home price of $123,500.

One reason why home prices are so high in Miami is because there are a lot of wealthy people living in this area. The percentage of households earning over $200,000 is above the statewide average and there are also a lot of affluent retirees living here. Additionally, many people who live in Miami commute to work outside of the city which means that they can afford to buy a house closer to their jobs.

Despite these factors, not everyone believes that home prices will continue to rise indefinitely. Some experts believe that there could be a housing market crash soon due to several factors including low interest rates and increasing regulations from Washington D.C.. If this happens, it could have a negative impact on home prices throughout the entire country.