47043, Vevay, IN

The 47043 zip code of Vevay, IN has a median home value of $101,000 and a median home equity value of $146,000. These values are significantly higher than the Indiana statewide median home value of $76,500 and the national median home value of $177,200. The 47043 zip code also has a significantly higher percentage of homes with equity than either the statewide or national percentages. This indicates that homeowners in this area are more likely to have significant assets available to them for emergencies or other needs.

One reason for the high equity values in this zip code may be the high number of homeowners who have taken out mortgages on their homes. In fact, over 60% of all households in this zip code have taken out a mortgage on their homes, which is significantly higher than both the statewide and national percentages. This indicates that homeowners in this area are more likely to feel confident about their ability to maintain their homes and pay off their mortgages.

Another factor that may contribute to the high equity values in this zip code is the low rate of foreclosure activity here. Only 2% of all households in this zip code have been foreclosed on within the past five years, which is much lower than both the statewide and national percentages. This indicates that homeowners here are more likely to have stable housing situations and avoid risks associated with foreclosure (such as losing their homes).

Overall, these data suggest that homeowners in 47043 zip code are generally very secure financially – especially when compared to residents elsewhere in Indiana or nationwide. This may be one reason why house prices here are so high – potential buyers can afford to pay a premium for properties located here without fearing too much risk associated with owning a home