47140, Marengo, IN

The 47140 zip code of Marengo, IN is located in the northwest corner of the state and includes a population of just over 10,000 people. The median household income in this zip code is just over $50,000 and the median home value is just over $150,000. Marengo has a relatively low unemployment rate (4.5%) and a high percentage of families with children under 18 living in poverty (27%).

Despite these positive indicators, there are some concerning trends that suggest that the housing market in Marengo may not be as strong as it appears on first glance. For example, the percentage of homes that are occupied by their owners (rather than rented) has been declining for several years now and this trend appears to be accelerating. Additionally, there has been an increase in foreclosure activity in Marengo recently which could indicate that prices are not sustainable at current levels. However, overall it seems likely that home values will continue to rise in Marengo over time given its strong economic fundamentals and limited supply of homes available for purchase.