47922, Brook, IN

The zip code of 47922 in Brook, Indiana has a median home value of $128,000 and a median home equity value of $111,000. This is significantly lower than the statewide median home value of $177,500 and the national median home equity value of $142,200. The reasons for this are likely due to the low population density in this zip code as well as the fact that Brook is an affluent suburb of Indianapolis.

Despite these factors, there have been some notable increases in home values over the past few years. In March 2016, there was a 2% increase in home values compared to March 2015. This was followed by another 2% increase in October 2016. These increases are likely due to increasing demand from buyers and investors alike as well as low interest rates across all markets.

While it is possible to purchase a property in this zip code for less than its market value, it is not common for homeowners to do so. The average homeowner's mortgage debt in this zip code is $164,000 which is considerably higher than the statewide average mortgage debt of $127,500 and the national average mortgage debt of $146,200. This high level of indebtedness may be attributable to Brook's affluent status or simply reflect the fact that many homeowners here have taken out mortgages they cannot afford to repay if prices decline significantly from their current levels.