47110, Central, IN

Central, Indiana is a suburb of Indianapolis located in Marion County. According to the 2010 census, Central had a population of 21,811. Central is home to several large corporations such as Eli Lilly and Company and Cummins Incorporated. The 47110 zip code covers much of Central including the corporate headquarters for these companies.

Home prices in Central have increased significantly over the past few years due to strong demand from both local and out-of-state buyers. In January of this year, the median home price in Central was $209,000 which was up from $189,000 in January 2013. The average home price in Central has increased by almost $50,000 since 2007 when it was $158,500.

The main drivers of home prices in Central are job growth (particularly at Cummins) and low interest rates. There is also strong demand for homes due to the close proximity to major employers as well as excellent schools and recreational opportunities. While there are some risks associated with buying a home in Central (such as high levels of crime), overall it is an extremely desirable area to live in with very good long-term prospects for homeownership.