47978, Rensselaer, IN

The 47978 zip code of Rensselaer, Indiana is located in the northwest corner of the state and includes the city of Rensselaer as well as portions of the townships of North White and South White. The population of this zip code was 17,827 at the 2010 census, making it one of the larger zip codes in Indiana.

Home prices in this zip code have been relatively stable over the past few years, with an average price of $130,000 in 2016. However, there has been a noticeable increase in home equity values over this time period. As of September 2017, home equity values were estimated to be $157,000 on average. This represents a 20% increase from 2014 levels and a 50% increase from 2009 levels.

One reason for this recent uptick in home equity values may be due to increased demand for housing within this area. The city of Rensselaer is growing rapidly and new development is being added to the area at a rapid pace. This has led to an increased demand for homes within this zip code and consequently an increase in home prices. Additionally, Rensselaer is located within commuting distance to major metropolitan areas such as Indianapolis and Chicago which may also contribute to higher home values within this area.