47404, Bloomington, IN

The 47404 zip code of Bloomington, IN has a median home value of $183,200 and a median home equity value of $119,000. The zip code has a population of about 42,000 people and the median household income is around $82,000.

There are several factors that contribute to the high home values in the 47404 zip code of Bloomington. First and foremost is the fact that Bloomington is a very affluent city with a high population density. Secondly, there are many wealthy families in the area who are able to invest in property and drive up prices. Finally, Bloomington has seen strong growth over the past few years which has led to an increase in demand for homes.

Despite these positive factors, there are also some challenges facing home prices in the 47404 zip code of Bloomington. One issue is that there is currently a lot of competition for homes available on the market which means that prices are likely to continue rising over time. Another potential issue is that although incomes have been growing steadily over recent years, wages haven’t kept pace with inflation which could lead to an increase in housing costs down the line.