47460, Spencer, IN

The Spencer, Indiana zip code 47460 has a population of approximately 10,000 people. The median household income in this zip code is $50,000 which is significantly lower than the national median household income of $53,046. The percentage of households earning less than $25,000 a year is also high at 34%.

One factor that may be contributing to the low incomes and high poverty rates in this zip code are the low home equity and home prices. According to Zillow’s Home Value Index, the median home value in this zip code is $130,000 which is well below the national median home value of $217,500. Additionally, the percentage of homes worth less than half of their original purchase price is also high at 43%.

Despite these challenges, there are some hopeful signs that suggest home equity and home prices may rebound in the near future. For example, according to Trulia’s analysis of recent sales data from ZIP Code 47460 homes have sold for an average price increase of 5% over the past 12 months. Additionally, Zillow’s analysis shows that there has been an uptick in interest rates over recent months which could lead to higher mortgage payments for homeowners in this zip code. If these trends continue then it could help boost home values and improve homeowner wealth in Spencer Zip Code 47460 over time.