47840, Centerpoint, IN

Home Equity and Home Prices in the 47840 Zip Code of Centerpoint, IN

The zip code of 47840 in Centerpoint, Indiana has a median home value of $141,000. This is higher than the statewide median home value of $117,500. The zip code also has a higher percentage of homes with a mortgage than the statewide average (66%). This may be due to the high demand for housing in this area or because more affluent residents are more likely to have mortgages.

The percentage of households earning over $100,000 is also high in this zip code (41%). This may be due to the many businesses and jobs located in Centerpoint or because wealthier residents are more likely to have higher incomes. Regardless of why these households earn so much money, it is clear that they can afford to buy homes in this area.

Despite these high levels of home equity and home prices, there are still many homeowners who are struggling to pay their mortgages. In fact, almost one-third (31%)of households in this zip code are currently paying more than their monthly mortgage payments on their primary residence. This indicates that there is still plenty of room for price growth in this area if buyers can find properties that fit their budget.