47408, Bloomington, IN

The Bloomington zip code 47408 has a population of around 116,000 people and is located in the northwest corner of Indiana. The median household income in this zip code is $62,500, which is lower than the Indiana median household income of $70,594. The percentage of households that are owner-occupied is around 68%, which is higher than the Indiana percentage of 63%. The percentage of households that are renter-occupied is around 32%, which is lower than the Indiana percentage of 37%.

The average home value in this zip code is $128,000, which is higher than the Indiana average home value of $123,200. The percent increase in home values from one year to the next was 6% over the past five years. Over the past ten years, home values have increased by an average of 8%.

There are a number of factors that could be contributing to these high home values in Bloomington. One reason may be that there are a high number of college students living in this area who may be able to afford more expensive homes. Another reason may be that Bloomington has a low unemployment rate and strong economy. Additionally, many people who live in this area work at companies with good benefits packages or have tenure at their jobs, so they may be able to afford larger homes even if their incomes don't increase as quickly as they would elsewhere.