47250, Madison, IN

The zip code 47250 in Madison, Indiana has a population of about 116,000 people. The median household income in this zip code is about $60,000 which is pretty high for the area. However, the home equity and home prices in this zip code are both quite low when compared to other areas of the country. In fact, according to Zillow, the median home value in this zip code is only $128,500 which is far below the national average of $213,500. Additionally, the percentage of homes that are owner-occupied in this zip code is also quite low at only 58%. This indicates that a majority of homes in this zip code are rented which may be contributing to the low home values and percentage of owner-occupied homes.

One reason why home values and percentage of owner-occupied homes may be lower in 47250 than elsewhere in Indiana or nationwide may be due to the fact that Madison is a college town. Many young adults who are looking for affordable housing choose to live here because it's close to schools and jobs. Additionally, there isn't much demand for homes within 47250 since so many people already live here. Therefore, it may take longer for prices to increase and more properties become available for sale.

Despite these factors, there are still some homeowners who have seen their home equity grow over time thanks to rising property values and steady rent payments. Overall though, it seems that most residents of 47250 have not been able to benefit from strong economic growth or rising home values over recent years like many others around the country have done.