47501, Washington, IN

Home equity is a measure of the value of a home minus the outstanding mortgage debt on that home. In Washington, IN, the median home equity was $128,100 in 2016. This means that half of all homes in the zip code had more equity than their outstanding mortgage debt.

Washington's 47501 zip code has seen some significant growth in home values over the past few years. The median home value increased by 8% from 2014 to 2016, which is above the national average of 6%. This growth can likely be attributed to strong job and economic growth in Indiana as well as low interest rates.

While there is significant upside potential for homeowners in Washington, it's important to note that there are also risks associated with buying a home. If you're not able to qualify for a loan or if interest rates increase, your home could become worth less than what you owe on it. It's important to consult with an experienced real estate agent if you're interested in buying or selling a property in this zip code.