47564, Otwell, IN

The 47564 zip code of Otwell, Indiana has a population of about 2,000 people. The median household income in the zip code is $50,000 and the median home value is $130,000. Otwell is located in Vanderburgh County and has a population density of about 1 person per square mile.

Home equity is important to many people because it provides them with an asset that they can use to finance other investments or to pay off debts. Home equity also provides homeowners with a measure of financial security. Home prices are important factors in determining home equity values. The average price of homes in the 47564 zip code increased by about 9% between 2007 and 2016. This increase was primarily due to an increase in demand for housing stock rather than an increase in available supply. In 2016, the average home value was $135,821 which was slightly higher than the 2007 value of $133,912.

There are several factors that affect home prices including interest rates, local economic conditions, and regulations governing housing development. Interest rates have been relatively stable over the past few years but could change at any time which would have a negative impact on home values. Local economic conditions such as job growth or inflation can also affect home prices although their impact is usually less pronounced than changes in interest rates or market demand