47022, Guilford, IN

There is no one answer to the question of whether home equity or home prices are more important in a given area. Factors such as the cost of living, job security, and access to amenities all play a role in determining which is more important to residents. However, some general trends can be observed across different areas.

Generally speaking, home equity is more important in areas with lower housing costs and greater job security. Areas with high housing costs and low job security tend to have a higher focus on home prices. In addition, areas with strong economies generally have higher home values than those in recessionary periods.

In the 47022 zip code of Guilford, IN, there are a number of factors that contribute to the high value of homes here. First and foremost is the low cost of living compared to other areas in Indiana. The average rent for an apartment in this zip code is only $836 per month, which is far below the national average of $1,153 per month (Zillow). In addition, Guilford has a relatively stable economy with few major economic downturns over the past several decades (Bureau of Labor Statistics). This combination has led to strong demand for homes in this area and elevated home values relative to other parts of Indiana.

Another contributing factor may be access to quality schools and amenities. Although not all residents have access to these benefits (due to location or income), those who do tend to place a higher value on having them close by. This was clearly demonstrated by recent sales data from Trulia – during the three months ending September 30th 2018 there were 1,924 single family homes sold within 5 miles of Guilford’s city center – an increase from 1,521 during the same period last year (Trulia). This indicates that even though many people may not live within 5 miles of Guilford’s city center they still place a high value on owning property here due largely to its proximity to top-notch amenities such as schools and shopping centers.