47586, Tell City, IN

The 47586 zip code of Tell City, Indiana is located in the northwest corner of the state. The area has a population of just over 10,000 people and an average household income of just over $50,000. Home prices in the 47586 zip code have been increasing rapidly in recent years and are now among the highest in the state.

As of February 2017, there were a total of 2,959 homes for sale in the 47586 zip code. The average list price was $269,898 and the median price was $259,000. The 47586 zip code had an inventory of 2,737 homes as of that date. This represented an increase of 9% from February 2016 and 24% from February 2015.

The reason for this rapid increase in home prices is likely due to several factors. First, Tell City is located within close proximity to major metropolitan areas such as Indianapolis and Chicago which has led to increased demand for housing within those areas. Second, Tell City has seen strong job growth over the past few years which has led to increased income levels and more spending power among its residents. Finally, Tell City's low interest rates have made it relatively easy for buyers to obtain financing for their purchases which has also contributed to rising home prices.