47525, Derby, IN

Derby, Indiana is located in the northwest corner of the state and has a population of approximately 25,000. The 47525 zip code covers a total area of just over 9 square miles and has a median household income of $60,000. Home prices in this zip code have increased significantly over the past few years and currently stand at an average of $157,500.

The primary drivers of home equity and home prices in Derby are strong economic fundamentals and limited supply. The city is located in one of the most economically prosperous regions in the country, with unemployment rates below 3 percent and median incomes above the national average. Additionally, there is very little new development taking place within Derby which has helped to keep prices high.

Despite these positive factors, there are some potential risks that could impact home values in Derby over time. One potential issue is that job growth may not be as strong as expected in the future, potentially leading to slower market growth overall. Another risk is that interest rates could rise significantly from their current low levels, potentially causing borrowers to pay more for their homes than they would have otherwise. However, given Derby's strong economic fundamentals it seems unlikely that either of these risks will materialize into major problems for homeownership over the long term.