Zip Code:

47374, Richmond, IN

47374 is a Indiana Zip code within the city of Richmond and the county of Wayne County. Its population is roughly 45,571.

The Real Estate Market in the 47374 Zip Code of Richmond, Indiana

The 47374 zip code of Richmond, IN has a median home value of $132,000. This is significantly lower than the Indiana median home value of $219,500. The percentage of homes in this zip code that are valued at less than $50,000 is also significantly higher than the statewide average of 26%.

The reason for this disparity in home values may be due to a number of factors. First and foremost, the Richmond area has seen significant population decline over the past several years. This has led to a decrease in demand for homes and an increase in available inventory. Additionally, Richmond is located in one of Indiana's more economically depressed counties. This may have contributed to lower home values as well as a lack of investment interest in the area.

Despite these challenges, there are still some homeowners who have been able to achieve success with their home equity investments. In fact, according to Zillow's recent report on "America's Best & Worst ZIP Codes For Home Equity", the 47374 zip code ranks #2 out of 522 zip codes nationwide for housing equity growth over the past year (based on Zillow Home Value Index data). Clearly there are many potential opportunities for homeowners who are willing to put in the work and stay focused on their long-term goals.

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Buy & Sell Shares of Homes in 47374, Richmond, IN

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